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It looks like the matter may soon go up for hearing with the United States Securities and Exchange Commission (SEC).
Mark Fagel, the former director of the SEC’s San Francisco office, speculated on the matter on Twitter, saying he thinks a decision could come in a few days.
Will the SEC settle with Ripple?
According For Fagel, “the settlement will not be a legal precedent.” However, he also argued that if there was to be a settlement, “it seems likely that it would have already happened.” He noted that “eve-of-trial” settlements are also not uncommon, but an injunction on future XRP sales seems to be an important point.
Furthermore, he also said that he “anticipates that the verdict is going to come in a few days.” Fagel noted that even if he was wrong, there is currently no basis to think that the delay in this case is due to anything “beyond the complexity of the case”.
My only reference is the recent unsealing order; This suggested to me that the Court had already determined what the decision would be. (…) I think the fact that he (Judge Torres) unsealed materiels which, when relevant, would come up at trial rather than just SJ (i.e. speech material) suggests that at least one of these Fewer are headed for trial; Beyond that there is speculation.
The Unsealed Hinman Speech
Fagel’s opening of the documents refers to the most recent development in the Ripple v. SEC case when Judge Analisa Torres unveiled the Hinman speech to the public.
As crypto potato Reportedly, Ripple’s chief legal office called for it to be removed from the SEC’s website and never again to engage in any discussion on whether an asset is a security.
The speech has been at the center of the commission’s legal efforts alleging that the sale of XRP in 2013 constituted an unregistered securities offering. Ripple, on the other hand, insisted that the speech describes Ether as a commodity, which should also rule out XRP being a security as it was sold in a similar manner.
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