Ripple scores a major win in SEC lawsuit

Home » Ripple scores a major win in SEC lawsuit

The presiding judge in the Ripple vs SEC lawsuit permitted use of former SEC Director William Hinman’s statements in trial, for a second time, thus boosting Ripple’s chances of winning the ongoing legal battle.

Ripple Scores major SEC lawsuit

Ripple Labs scored a major victory in the ongoing XRP-SEC pre-trial hearings last week. Presiding judge Sarah Netburn ruled for a second time that Ripple could use former SEC Director William Henman’s written statements during trial. With these statements which significantly damage SEC’s case, permitted during trial, Ripple stands a good chance of winning.

Prior to the filing of the XRP lawsuit, William Henman had publicly stated that cryptocurrencies weren’t securities. Whether his words could be used in court or not was a major battle during the pre-trial hearings. As can be expected, Ripple Labs wanted to use them, while SEC did its best to ban them from using it. 

However, as things stand now, Judge Netburn decided for a second time that the former will be allowed to use them. Now should the matter go to trial, there’s a very good chance that Ripple will come out on top.

Is there a settlement round the corner?

It’s common knowledge, that the more favorable evidence you can produce during a trial, the better. As Ripple has now been allowed to use an SEC official’s statement in trial, which contradicts the very basis of SEC’s case, is an extremely damaging prospect for the plaintiffs. 

Keeping the above in mind, there’s a good chance that SEC might want to settle. It doesn’t look likely that SEC will win if this thing goes to trial. It won’t be a surprise if SEC seeks a settlement and tries extracting some minor concessions from Ripple.

According to legal experts closely following the XRP lawsuit, a settlement could come as early as in April itself. There is still one and a half week left in the month, so anything could happen during this time. 

In the event that a settlement is reached, it’s expected to be for a small amount. Ripple had said earlier that they totally reject SECs claims and would like them to pay their legal bills for this case.

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