Bill Morgan, the famous Lawyer and Crypto enthusiast has expressed his thoughts that a settlement agreement between the SEC and Ripple is a real possibility.
According to him, Ripple’s possession of recordings of Hinman’s speech has given the crypto company real leverage. In order to leave this data unrevealed, which would not happen when the case is decided in court, the regulator may be inclined to settle.
SEC vs Ripple Upcoming Updates
The crypto community may be eagerly focused on the developments surrounding Genesis Trading and Digital Currency Group (DCG) in recent times, Ripple Labs continues to battle the U.S. Securities and Exchange Commission (SEC).
And by November 30, 2022, both Ripple and the SEC will file their summary judgment briefs that will remain under seal for the time being. On December 02, 2022, the two parties will meet and jointly discuss the redactions for the court filings.
After a few days, on December 05, 2022, Ripple’s and the SEC’s briefs will be made public. And then finally, on December 22, 2022, the omnibus motions to seal all documents related to the summary judgment motions will be filed.
According to Mr. Morgan, the documents that will be made public on December 05 could be one of the most revealing documents of the trial. He noted, “The Ripple reply may be one of the most telling documents filed in the case to date and certainly one of the top few I have eagerly awaited.”
As per his experience, he strongly believes that a settlement agreement between the SEC and Ripple is a real possibility. Further, he noted that a settlement agreement could be reached at any time, without the public’s knowledge. “[N]obody outside the parties will know until the parties say it has settled.”
Additionally, the attorney added Ripple’s possession of records of Hinman’s speech provides it with strong leverage. In order to keep these documents secret and prevent a broader impact on overall crypto market regulation, the SEC may be forced to settle.
On a question, if the SEC might eventually be forced to make the Hinman documents public, Mr. Morgan answered that “Not necessarily if keeping the Hinman documents confidential is a term of settlement. That is why having them gives Ripple real leverage in settlement negotiations.”
He also added, “We don’t know on what basis Ripple received them that does not allow them to be publicly revealed. Under the local rules under which I practice in Australia there is an implied undertaking not to publicly reveal documents disclosed by another party until put into evidence.”
Source: https://www.thecoinrepublic.com/2022/11/25/sec-vs-ripple-see-what-does-the-lawyer-think/