A few hours ago, there was a new development in the ongoing lawsuit between Ripple and the SEC, and the public disclosure of the Hinman documents, which was eagerly awaited by XRP supporters, was postponed to June 13 with the joint decision of the two sides.
As a latest development, Judge Torres accepted the parties' request to extend the deadline until 13 June.
The development in question was interpreted by some as a compromise between Ripple and the SEC, which resulted in an increase in the XRP price.
Previously, the said documents were expected to be announced by June 6 at the latest.
The Hinman materials are considered crucial by Ripple, which has been fighting against the SEC's claim that it has been selling XRP in an unregistered security offering since 2012.
Ripple argues that XRP is a digital asset similar to Bitcoin and Ethereum and does not give fair notice on the SEC's regulatory stance on XRP.
Lawyer Representing XRP Holders Thinks Postponement Isn't Compromised
John E Deaton, a lawyer representing thousands of XRP holders as amicus curiae in the case, tweeted:
“There are many comments as to whether this delay is for reconciliation talks. If the Hinman emails were to lead to a compromise, it would have happened before those documents were delivered to Ripple. I think the SEC has accepted that the Hinman emails will eventually go public.”
A lot of comments about whether this delay is for settlement discussions. If the Hinman emails were going to lead to a settlement it would’ve been before they turned them over to Ripple. IMO, the SEC has accepted that the Hinman emails are eventually going to be made public. https://t.co/Plo9Vw4ER7
— John E Deaton (@JohnEDeaton1) May 19, 2023
The case is being watched closely by the cryptocurrency industry as it could have significant implications for the legal status of digital assets in the US. The judge can award either side a win without a trial or decide to narrow down the issues that go before the jury.
*Not investment advice.
