The Ripple vs SEC lawsuit is nearing an end and with settlement speculations still quite high, Ripple CEO Brad Garlinghouse cleared the only condition that would make them settle with the SEC. Garlinghouse appeared on the Fox network to talk about the need for clarity on Security laws from the SEC and also made it clear that only if SEC agrees that XRP is not security quite similar to Ether, they would go for the settlement. He explained,
“To the extent, we can find a constructive path forward with the SEC, we, of course, want to find that. There is no scenario though when we going to settle unless there is absolute certainty about what is XRP on a go-forward basis. We have a clear vision of how XRP can be an extremely powerful tool…There’s a lot of other people in the crypto community and the XRP community doing amazing things with XRP. “
The XRP lawsuit is currently at a critical stage where Ripple’s legal counsel is betting on former SEC director William Hinman’s speech from 2018. Ripple has accused SEC of giving Ether, the second-largest cryptocurrency, a free pass which is quite similar to XRP conducted an ICO as well. On the other hand, SEC claims Hinman gave that speech in his personal capacity and it cannot be used as a defence against the agency.
— ƝƠƬƠƦƖƠƲƧҲƦƤ 🦋 (@INotoriousxrp) September 25, 2021
XRP Community Certain Ripple Would Win the Case
XRP community is considered one of the strongest crypto communities out there and they have unearthed a number of documents and speeches made by SEC executives during 2018 after Hinman’s speech to prove that SEC did give Ethereum a free pass. XRP community also accused SEC of personal gains from the decision.
In the latest development of the XRP lawsuit, Ripple has filed a motion to examine three additional documents for in-camera review based on a privilege log provided by the SEC after the August 31, 2021 telephone conference, including an email chain. The email chain in question reportedly shows that SEC asked third parties to use Hinman’s speech to analyze digital assets. This is quite a big revelation given SEC has claimed Hinman’s speech was made in his personal capacity.
JUST getting back into this case and….WTF (legal term).
The SEC sent an email to a third party telling them to analyze a digital asset using the factors in the Hinman speech; which speech was just his personal opinion.
I understand now – it's the SEC that NEEDS CLARITY! https://t.co/7BpioSmk1i
— Jeremy Hogan (@attorneyjeremy1) September 24, 2021
XRP community are quite certain that Ripple would win the case given the glaring evidence and number of lies that the SEC has told during the ongoing lawsuit.