The infamous Ripple Labs versus SEC case might be coming to an end, according to the defense team.
The opinion of the legal consultant Bill Morgan, there is an increasing chance that SEC would incline towards a settlement before long. He claimed that, at present, Ripple Labs holds real leverage over the US financial authority.
During the process of discovery, Ripple Labs was able to get hold of the leaked emails by former SEC director William Hinman.
According to the opinion of Hinman, the Ripple Labs case might settle without disclosing the contents of leaked emails of former SEC operatives. He further exclaimed that SEC could try to keep the evidence away from public exposure.
William Hinman’s Opinion on Crypto
The contents of the leaked emails contain the on-record remarks of William Hinman relating to his market-impacting speech in 2018. In the speech, he openly declared that Bitcoin was not properly decentralized, and at the same time, he also interjected that Ethereum was not digital security.
Counsel Morgan has also claimed that Ripple and SEC settlement is a real possibility, and many have been expecting it to conclude soon. He said that the conditions for both SEC and Ripple Labs to get on the settlement tables are good enough.
Morgan claimed that Hinman’s emails could be the most incriminating part of the summary judgment in response to a question.
The real question is that for the longest time, the Ripple Labs case has been seen as a sample for the regulatory agencies to impose regulation on DeFi.
However, the case can also be seen in an individual capacity. The current SEC Chief is already facing heat from cryptocurrency investors in the matter of his controversial involvement with the FTX debacle.
On the other hand, President Biden has called for cryptocurrency regulations in the next G20 country summit held in Indonesia. Meanwhile, Coinbase and 14 other cryptocurrency enterprises joined forces with Ripple using amicus brief applications last week.
Attorney John Deaton has reiterated the remark that SEC would prefer to settle rather than reveal Hinman letters during case proceedings.