The SEC Lawsuit Against Ripple is Not Settling Down Any Time soon, Says Ripple’s Leading Lawyer

Investors should not expect Ripple’s settlement with SEC anytime soon, Ripple’s lawyer suggested in a tweet.

Investors Should Settle in for a Long Haul

In a series of tweets, on July 30th, former federal prosecutor and part of Ripple’s legal team: James K. Filan suggested, the investors should set in for the long haul as they should not expect the lawsuit between the agency and Ripple to settle down anytime soon.

According to his observation, Filan stated, it looks like the government is not going to give up and Ripple is not giving in too. He stated, Hinman’s deposition went forward as he asserted that Hinman does have first-hand information regarding the agency’s communications with the third parties and on the approval of his famous 2018 speech, in the agency, which noted that BTC and ETH are not securities and the transactions[offers and sale] involving ETH are not securities transactions.

Deposition Likely to Open a Can of Worms

He stated Hinman’s deposition is likely to open a can of worms that the defendant’s lawyers will be examining for some time. Filan suggested that Ripple got the names to whom Hinman and other agency officials talked and what they talked. And now Defendant is interviewing them. He stated:

“I also understand that people are mad about the SEC’s actions and inactions after all this time, but in my opinion, this case really isn’t about punishing the SEC or anyone else.”

Further, Filan also wrote on the purpose of fighting the lawsuit as he affirmed:

“The goal is to clean this mess up and move forward. So I don’t think a settlement is coming anytime soon. This is a war. I think we should settle in for the long haul.”

In his June 25th interview with Protocol, Ripple general counsel: Stuart Alderoty has uttered a similar notion when he stated that the SEC has created “a regulatory morass” and the lawsuit against Ripple is of high significance for crypto as a whole.

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