The case between Ripple and the United States Securities and Exchange Commission rages on.
We’ve recently explored how the lawsuit could affect the entire crypto industry, talking to legal experts with an interesting commentary on the matter.
With that said, let’s have a look at some of the most recent developments as of today – June 27th, 2023.
- The most recent development came yesterday when the lawyer representing thousands of XRP holders – John E. Deaton – revealed that he got an email that initially worried him.
- However, it turned out that there was just one lawyer who withdrew from the case. Deaton, as well as Marc Fagel – a former SEC litigator – both confirmed that this is a non-event.
- Speaking of Fagel, a couple of weeks back, he said that a ruling might be coming in days.
- Perhaps the most important development this month came on or about June 13th when the SEC, under a court request, finally unsealed the documents pertaining to William Hinman’s speech.
- You can find more about it here.
- Commenting on the matter was Stuart Alderoty, the Chief Legal Officer at Ripple, who said:
Seeing the depth to which the SEC has essentially weaponized the lack of regulatory clarity through enforcement actions since this speech was given – it’s no surprise that we can call bluff on their claims to “just come in and register” as nothing but in bad faith.