Lawyers predict victory for Ripple in court with SEC
This is indicated by a new court ruling
They have ordered the release of the so-called Hinman documents
The legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) has moved to the final stage. According to analysts, the cryptocurrency company will win it. This is indicated by the latest decision of Judge Analisa Torres. She ordered the so-called Hinman documents to be made public.
Ripple going to go full send mode $XRP
- Johnny (@CryptoGodJohn) September 29, 2022
William Hinman is the former director of corporate finance at the SEC. The documents refer to one of his speeches in which he stresses that Ethereum (ETH) is not a security.
Ripple Labs stressed that Hinman’s documents are an important argument. After all, if ethereum is not a security, then Ripple’s XPR cannot be recognised as such an asset either.
The essence of the trial
The litigation has been going on for almost two years and concerns the regulatory status of XRP. In the lawsuit, the SEC claims that Ripple XRP cryptocurrency is a security. They are suing company executives Chris Larsen and Brad Garlinghouse. The commission accuses them of selling unregistered securities and is demanding a $1.3 billion fine.
The importance of the case to the crypto industry
This case and the verdict itself will be used as a precedent when evaluating other cryptocurrencies. After all, Coinbase and many companies are now battling similar lawsuits from the SEC.
