According to a seasoned professional in the field, the protracted legal dispute between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) is about to take a turn for the better. Former lawyer and SEC regional director for San Francisco Marc Fagel offered his thoughts on the issue and predicted that a decision may come soon.
The former lawyer made an effort to avoid speculating but stated that a decision may come soon. He claimed that any delays in the case were most likely brought on by its complexity and not a sign of hidden agendas.
Furthermore, Fagel made it clear that Ripple, the entity that created XRP, was different from previous recent SEC enforcement proceedings. He pointed out that the judge’s decision is unlikely to address the issue of secondary market trading and that the disputed Hinman emails may only be used in relation to a decision on the responsibility of the specific defendants.
In addition, John Deaton, an attorney and the XRP holders’ legal counsel, offered his opinion. He made it clear that he thought it was wrong to accuse certain executives of assisting and abetting on the basis of irresponsibility. No rational jury, according to Deaton, would find any executives to be careless.
