Secret Ripple-SEC Discussions Exposed: Will XRP Lawsuit Take A U-Turn?

The post Secret Ripple-SEC Discussions Exposed: Will XRP Lawsuit Take A U-Turn? appeared first on Coinpedia Fintech News

Recent comments on Twitter have reignited debates surrounding the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple. Notably, an analysis from on-chain investigator, Mr. Huber, shed light on the SEC’s accusations of Ripple’s inconsistent stances regarding a past speech by Director Hinman.

What Has Ripple Been Accused Of? 

Mr. Huber’s tweet drew attention to an excerpt from an SEC court document in which the regulator accuses Ripple of altering its viewpoint on the importance and context of Director Hinman’s speech. The SEC claimed that Ripple initially used the speech to argue against a lack of fair notice from the regulator, but later dismissed the speech as Hinman’s personal opinion, disassociated from his official capacity as Director of Corporate Finance.

Read More: Ripple vs SEC Lawsuit Update: Hinman’s Documents May be Revealed in the Next 30 Days – Coinpedia Fintech News

David Schwartz Speaks Out 

Responding to Huber’s tweet, Ripple’s Chief Technology Officer, David Schwartz, maintained that Ripple’s stance was not contradictory. Schwartz noted that many in the crypto space initially interpreted Hinman’s speech as a form of agency guidance, only to discover later that the SEC dismissed it as a personal opinion.

Deatons Reveals New Findings

While the dispute around Hinman’s speech plays out, an overlooked detail from Ripple’s past opposition brief could turn the tables in the lawsuit. Noted crypto attorney and XRP supporter John Deaton revealed an inconspicuous footnote in a Ripple document from 2022. Deaton’s find points to discussions about XRP’s status among SEC staff before Hinman’s controversial speech, a disclosure that could significantly sway the lawsuit’s trajectory.