Why Didn’t US SEC Appeal Over Hinman Docs? Is It Looking To Settle?

XRP News: Ripple labs and U.S. Securities and Exchange Commission filed a joint letter in the court seeking one week extension to submit public, unredacted versions of Hinman speech documents. However, the court granted both parties’ request for an extension of time to June 13, 2023. Meanwhile, the U.S. SEC not utilizing its option to appeal against the court order to reveal controversial documents has sparked rumors of a might be Settlement with the defendants.

Also Read: Ripple CEO Warns “Confusing Laws” Will Push Crypto Firms To Leave US

Why Didn’t US SEC Appeal?

As per reports, U.S. SEC had the option to file an interlocutory appeal against the decision. While the commission had 10 days to file a reconsideration in the matter.

Attorney John Deaton, amicus curiae in the XRP lawsuit gave out reasons over Why didn’t the U.S. SEC file an appeal. He highlighted that the commission could have submitted a Writ of Mandamus but it would be failed. He added that even if the judge allowed them to file an interlocutory appeal on the documents, it would also fail.

He mentioned that the 2nd circuit court of Appeals would not overturn its decision that the email linked to the Hinman speech is not shielded by the attorney client or Deliberative process privilege. Read More XRP News Here…

Also Read: Will Central Banks Utilise XRP Via Ripple’s CBDC Platform?

The XRP holders’ lawyer rejected the rumors building around the settlement discussions between the parties. He stated if Hinman’s speech docs would have led to a settlement in the case then it would have come before handing over them to the defendants.