Bill Hinman’s position and the Programmatic Sales decision may be the main topics of discussion during settlement negotiations in the SEC v. Ripple litigation.
Crucial Notes:
- On Friday, XRP increased by 1.09%, closing at $0.6124.
- The deadline for the November 9 briefing schedule is approaching.
- The settlement negotiations may revolve around Bill Hinman and the Programmatic Sales ruling.
The Friday Synopsis
XRP had a rise of 1.09% on Friday. XRP recovered from Thursday’s 0.44% loss to close at $0.6124.
SEC vs. Ripple Showdown: November 9 Countdown Begins,SEC vs. Ripple Showdown: November 9 Countdown Begins
The SEC and Ripple have until November 9, 2023, to submit a briefing schedule on relevant allegations in the SEC v. Ripple case, under the court order of October 24, 2023. The issue of XRP’s institutional sales persists in the wake of the Programmatic Sales court verdict.
Ripple’s Moment: How November 8th Could Make History
The SEC and Ripple have until November 9, 2023, to submit a briefing schedule on relevant allegations in the SEC v. Ripple case, under the court order of October 24, 2023. The issue of XRP’s institutional sales persists in the wake of the Programmatic Sales court verdict.
Nevertheless, neither the SEC nor Ripple have released any developments from the negotiations since the court order on October 24. The court will choose a disputed briefing schedule date if the parties are unable to agree on one.
Since the Programmatic Sales judgement, there has been a great deal of discussion over the SEC’s actions in this case. The SEC may be preparing a post-trial appeal if they are unable to challenge the decision through an interlocutory appeal.
The SEC cannot appeal earlier decisions and motions until the SEC v. Ripple case is resolved. Settlements, however, will not be subject to SEC appeals.
Given the circumstances, in the event of a settlement, the SEC may score a much-needed victory with a punitive disgorgement. After that, it’s likely that the SEC will focus on an appeal of the Programmatic Sales decision.
The conditions of any settlement, though, could end up being crucial. If Ripple consents to a punitive disgorgement, the SEC’s decision on Programmatic Sales may be accepted. And there’s the issue of the documents pertaining to the Hinman speech.
The SEC made at least six failed attempts to use the attorney-client privilege to protect the records prior to the Programmatic Sales judgement.
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Bill Hinman: The Documents and the Notable Speech
Bill Hinman stated at a lecture in June 2018 that etherium (ETH) and bitcoin (BTC) are not securities. Hinman was the SEC Director of the Division of Corporation Finance at the time of the speech.
The speech’s controversial aspect is Hinman’s lengthy affiliation with the legal practise Simpson Thacher. Simpson Thacher is associated with an organisation that advances Enterprise Ethereum. After Hinman left the SEC, he went back to Simpson Thacher.
According to reports, the speech-related records include internal conversations with the SEC ethics team. The records from the time of the speech indicate that Hinman met with Simpson Thacher even after the Ethics team had warned him not to.
SEC vs. Ripple Showdown: November 9 Countdown Begins,SEC vs. Ripple Showdown: November 9 Countdown Begins,SEC vs. Ripple Showdown: November 9 Countdown Begins , Ripple coin Crypto news, Ripple coin News