Options SEC holds For Delaying XRP lawsuit

The U.S. Securities and Exchange Commission (SEC) is actively applying its delay tactics in the long running Ripple lawsuit. The decision over the revelation of Hinman’s speech and related emails has been announced by the court. However, the SEC is still trying to go with its assertions against the judges.

Ripple lawsuit to face more delays?

The commission seems to be not in a frame of mind to reveal the crucial speech memos in the Ripple lawsuit yet. However, Judge Analisa Torres has rejected the SEC’s claims over the Hinman related documents. Even, Judge Torres has overruled the SEC’s reconsideration appeal in court.

Attorney has confirmed that the SEC still can file in the 2nd circuit court for another reconsideration motion over the documents if it does reveal it now. However, there is a possibility that the commission would hand over the emails but the court won’t notify this event till the next filing in the Ripple lawsuit.

The SEC submitting the Hinman documents would signal that they have laid down their guards in the case. While this will cue that the commission is skipping the motion for reconsideration.

What does attorney suggest?

Attorney Jeremy Hogan has suggested that the SEC have the time to file reconsideration till October 19, 2022, in the Ripple lawsuit. However, there would be no new claims to be mentioned in the filings which can give the commission an edge.

However, if the SEC decides to move forward for reconsideration without anything new to add then it will be easy for the court to just deny the appeal. The commission here might take some extra time to show their next move ahead.

Meanwhile, the US watchdog still has options ahead like requesting the judge to certify an appeal or file in the court of Appeals for a petition for Writ of Mandamus. Hogan highlighted that the deadline for certifying an appeal is 60 days from September 29.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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