More On: ripple lawsuit update
Ripple's cross-border growth confronts the SEC
Ripple lawsuit update: Judge rejects SEC's request to suppress Ripple docs
RIPPLE WINNER DUE TO SEC'S 'MAJOR ERRORS' AT 'SUICIDE MISSION HEARING'
In the coming weeks, President Biden will nominate a former Ripple adviser to be the Fed's Vice-Chair for Supervision.
XRP gains support from SEC v. Ripple case updates
Relisting of XRP might come sooner than predicted if this analysis is correct and the SEC is not successful in appealing the DPP verdict.
According to John Deaton, the lawyer for 65,000 XRP investors, the SEC's move for reconsideration was denied, confirming an order to submit 68 documents connected to the Hinman's 2018 lecture, which was the subject of the original order.
A "larger decision" than expected may come out of this order, which had been labeled "the largest [decision] in the XRP litigation." Due to Judge Netburn's inclusion of a "bullet proof portion" in the court order, the SEC is unlikely to use the 2nd Circuit to further postpone the case.
As Ripple executives have protested openly and even dubbed it "gamesmanship" in court, asking fines on the plaintiff, the SEC's stalling tactics might be put an end to.
As a result of this ruling, there is less risk of additional delays, which might lead to a quicker resolution between the parties. As a result, many believe that the SEC would refuse to hand over its own papers, even if it costs the agency the entire investigation.
There is just no way that the DPP will be disturbed in any way.
"Any appeal to the 2nd Circuit is now bulletproof, thanks to Judge Netburn's addition of a new clause. Under Rule 6.3 (can't bring new reasons you didn't raise the first time), she may have rejected the petition for reconsideration. John Deaton tweeted, "She didn't simply hastily dismiss the request, but considered the SEC's substantive DPP case and then rejected it [...]." DPP's importance and this judge's failure to evaluate it as she should were her only two arguments on appeal, which she effectively nullified.
A FEW OBSERVATIONS:
— John E Deaton (@JohnEDeaton1) April 12, 2022
1) I was wrong before when I said there were 52 Drafts of the Hinman Speech.
The judge writes: “as evidenced by the 68 Drafts and associated commentary in the SEC’s privilege logs.”
68 drafts w/ lots of commentary. There’s a strong chance #XRP is mentioned! https://t.co/MuSC8ORrd2
When it came to her address, she brought out the Securities and Exchange Commission (SEC) for their conflicting statements. If you don't like the Court's decision, she added, you can't modify your viewpoint. By calling attention to Hinman's "under oath" evidence, she pointed out the contradiction, he said. A review by an appeal court will reveal that the judge has upheld all legal privileges. In my opinion, neither Judge Torres nor the 2nd Circuit Court of Appeals can overturn Judge Netburn's decision."
The SEC v. Ripple dispute might be over sooner than thought, leading to the relisting of XRP on US-based exchanges and trading platforms if this analysis holds true and the SEC is unable to appeal the DPP verdict.
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