Dating from December 2020, the Ripple – SEC affair is rich in twists and turns. From the start of the trial, Ripple rallied various institutions and crypto players to its cause. Added to this is a long list of users and investors considered to be side victims. While the SEC thought it was in its favour, the situation has changed dramatically. A large number of people are even predicting the victory of Ripple, and have been for several months.
The Hinman documents, the keystone of the Ripple lawsuit against the SEC
In September, the federal court judge forces the SEC to turn over the Hinman documents to Ripple’s attorney. Dating from 2018, this draft speech written by William Hinman would attribute a security value to the XRP token. Information that would invalidate the lawsuit that has pitted the SEC against Ripple for two years now. The main subject of the case being the real status of XRP.
Now that the Hinman documents can be made public, the SEC will have to consider a negotiation so as not to put itself at odds. In any case, this is what Ripple’s lawyer, Bill Morgan, thinks. According to him, the Hinman documents constitute a real leverage in the lawsuit. The reason is simple: if the case goes to trial, the SEC will no longer be able to keep the emails secret. This crypto regulator therefore has every interest in finding an amicable solution with Ripple.
Bill Morgan goes so far as to say that this is no longer a rumor or a possibility. According to him, the conditions for a settlement agreement have finally been met.
Could this be the end for this crypto regulator?
This is not Ripple’s first procedural victory. More importantly, it now enjoys the support of the greatest number. In recent weeks, for example, many institutions have rallied to file amicus curiae requests. This procedure will allow them to provide additional information in favor or not of the parties concerned.
On November 18, Federal Judge Analisa Torres received and approved 16 requests. Ripple and the SEC have 6 days from today to respond. The deadline is therefore November 30.
For now, everything seems to point to a landslide victory for Ripple against the SEC. Unless there is a change of heart, we hope in any case that this trial will end quickly. To be continued…
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