The ongoing legal case between Ripple (XRP) and the Securities Exchange Commission (SEC) continues to take new twists as both parties wait for the case to be resolved.
In that line, crypto attorney Jeremey Hogan pointed to what he calls confusion over the delivery of former SEC Division Director William Hinman’s emails, he said in a series of tweet October 14.
According to the legal expert, following the presiding judge’s decision to overrule the SEC’s objections to the delivery of the emails, she did not specify when they must be delivered. The email in the running relates to a speech given by Hinman in 2018, in which he said that Bitcoin (BTC) and Ethereum (ETH) are not securities.
According to the crypto legal expert, the SEC may not appeal the verdict due to its global implications.
“IF the SEC appeals the decision, it will take a long time to figure out – months. Personally, I don’t think the SEC will appeal because they risk having an adverse binding case authority by doing so. Bad facts = bad law. And these are bad facts. But others have different opinions about it,” he said.
The delivery date of the emails
When the court can order the delivery of the emails, Hogan said the deadline could be set when an appeal of the judge’s decision is due. However, he pointed out that the court shows some leniency because once the documents are handed over, the decision cannot be reversed.
“So that time frame is, roughly, 60 days – maybe longer if they ask for a reconsideration, which I doubt they will,” he added.
At the same time, Hogan questions the relevance of the emails in contention.
“BUT, keep in mind that the content of these emails is NOT relevant to the violation of Sec 5 (that XRP is a security). It’s probably only really relevant to the fair notice defense Also, remember only the SEC has sought summary judgment on the fair notice defense, Ripple has not,” he added.
The case continues despite the result of the e-mails
Overall, the attorney anticipated that Ripple may object to any decision on fair notice as the discovery is incomplete. Additionally, he said that if the SEC decides to appeal, the case will continue.
Regarding the determination of the issue, Hogan indicated that the case could be settled before November 15.
As the case drags on, Ripple has continued to record minor victories, with legal experts predicting that the court may rule in favor of the blockchain company.