Attorney and XRP supporter John Deaton is considering the possibility that a settlement is in the works between payment company Ripple and the US Securities and Exchange Commission (SEC).
On Friday Ripple archived a motion directed to Judge Analisa Torres requesting a one-week extension to file public, redacted versions of the company’s mutual motions for summary judgment and associated evidence, including the Hinman documents.
On May 18, Judge Torres ordered that documents related to the highly controversial “Hinman Emails” be unsealed for public inspection.
The material includes internal SEC deliberations regarding a speech by former SEC director William Hinman in 2018 when he said in his official capacity that both Bitcoin (BTC) and Ethereum (ETH) are not securities.
The delay in the pending litigation has led to speculation that the SEC and Ripple may be using the time to work out the details of a settlement.
However, pro-XRP attorney John Deaton believes that the unsealing of the Hinman documents is unlikely to stop the SEC from closing the case.
“Lots of comments on whether this is a postponement for settlement talks. If Hinman’s emails led to a settlement, it would have happened before they turned them over to Ripple. In my opinion, the SEC has accepted that Hinman’s emails will eventually be made public.”
Deaton he says believes SEC Chairman Gary Gensler, who is hostile to the crypto industry, is determined to bring the years-long litigation to an end.
“I know a lot of people are hoping I’m wrong because they want this to be over. I’ve been wrong before and I hope I’m wrong now. Hell, I’m jumping up and celebrating that I’m wrong. But Gensler is moving full steam ahead. How can he agree that XRP is not security, but sue Coinbase and claim that the others are?”
In December 2020, the SEC sued Ripple for allegedly selling XRP as an unregistered security.
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