How Expert Discovery In XRP Vs SEC Case Is Paving The Way For A Ripple Win

The lawsuit between U.S. Securities and Exchange Commission (SEC) and Ripple has come a long way. Back in 2020, SEC sued Ripple alleging that the XRP token is a security and a currency. Many events and evidence related to the case came into the spotlight till now. However, the majority of the documents represent the biases and lack of clarity in the approach of the commission.
Major events discovered in the case
February 2022 can be marked as the most action-packed month till now in the case. The month saw revelations of the mystery hidden behind the two legal memos to considering Estabrook Notes to be shown on camera. The latest discoveries have completely shaped the case in Ripples’ favor while SEC is still trying to apply delay tactics.
From Ripple and XRP’s perspective, the revelation of the legal consulting memos received from Perkins Coie LLP attorney back in 2012 has played in their favor. While, the first memo said ‘Sale may subject to being regulated as securities or commodities by the commission’, the second memo assured that XRP may not be considered as a security under federal law.
However, disclosure of the Estabrook Notes will play a vital role in this case. These notes are the minutes from the meeting between Mr. Garlinghouse and then SEC’s Commissioner Roisman. Interestingly this meeting happened in November,2018 after which SEC sued Ripple in 2020.
What after Discovery period?
The notes carry very crucial information regarding the nature of XRP tokens. Ripple’s CEO believes that these notes will surely help them in the case. Notes will approve that he had a discussion with the Commissioner regarding the regulation of digital assets.
It seems like the crucial discovery period in the lawsuit is coming to an end. This is a positive signal for cryptocurrency enthusiasts. This season has been fruitful for Ripple as it has presented both old and new documents related to the nature of the token. As fast as this will end the next ‘Conclusion period’ will start where the court will decide the fate of the XRP token.
- Analyst Turn Bullish with $400 SOL Target as Hong Kong Approves First-Ever Solana ETF in Asia
- Veteran Trader Peter Brandt Says “MSTR Could Go Underwater” If Bitcoin Repeats 1977 Soybean Crash
- BSC Meme Season Ends as PumpFun Surpasses Four Meme Amid $8M Inflows
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism