Speculations arise as Ripple seeks extension, hinting at a possible settlement with SEC

John Deaton, a lawyer and XRP advocate, has offered his opinions on the likelihood of a settlement between Ripple and the U.S. Securities and Exchange Commission (SEC). Recently, Ripple submitted a motion asking for more time to submit cross-motions for summary judgement that included the much-discussed Hinman documents in their public versions. As the case develops, rumours of a potential settlement between the parties have surfaced.

Unsealing of Hinman Documents and Lawsuit Delay

On May 18, following a court order, records pertaining to the contentious “Hinman emails” were made available for public review. Internal SEC discussions about a lecture by former SEC Director William Hinman, who claimed that Bitcoin (BTC) and Ethereum (ETH) are not securities, are contained in these files. It has been suggested that Ripple and the SEC may be negotiating a potential settlement during the delay in the ongoing lawsuit.

Deaton’s Perspective on the Settlement:

The unsealing of the Hinman records, according to pro-XRP attorney John Deaton, may or may not result in a settlement. He contends that if the SEC wanted to settle, they would have done so prior to giving Ripple access to the Hinman emails. According to Deaton, the SEC has probably conceded that these records will eventually be made available to the public.

SEC Chair’s Determination

Deaton further asserts that he thinks SEC Chair Gary Gensler, who is well-known for having a negative view of the cryptocurrency sector, is committed to see the litigation through to its successful end. Deaton implies that Gensler is continuing with full determination despite the aspirations of many for a quick settlement. The lawyer queries Gensler’s ability to assert that XRP is not a security while yet suing Coinbase for other cryptocurrencies. The SEC filed a lawsuit against Ripple in December 2020, claiming that the company had illegally sold XRP as an unregistered security. The ongoing case has drawn a lot of interest from the cryptocurrency world.