A former SEC regional director has commented on the ongoing litigation between the US securities regulator SEC and Ripple, the company behind the XRP altcoin.
Marc Fagel, who served as a director at the SEC's San Francisco office from 2008 to 2013, responded to a tweet from a cryptocurrency influencer who questioned the impact of the recent disclosure of emails between former SEC director William Hinman and Ripple executives.
On Twitter, Mr. The influencer, using the Huber name, suggested that the SEC dropped lawsuits against other crypto projects before Judge Analisa Torres made her decision on whether XRP is a security.
The influencer argued that the longer Torres waits for his decision, the more confusion will arise in the market and the stronger Ripple's fair notification defense will be.
Fagel: "Waiting for Judgment in Ripple-SEC Case in a Few Days"
Replying with a series of three tweets, Fagel said he expects the verdict to come out in a few days and there is no basis to think the delay was due to anything beyond the complexity of the case.
He added that Torres' decision is unlikely to address the Hinman emails, as Ripple has not acted on the summary judgment on fair notice and the case will likely go to the jury.
Fagel also issued a caveat: the decision may refer to emails in connection with a decision regarding the liability of Kieral defendants, namely Ripple CEO Brad Garlinghouse and co-founder Chris Larsen. He said it wasn't a sure thing, but it was possible.
*Not investment advice.