In The XRP Lawsuit, Ripple Council Felt Bad About The SEC’s Criticism Of Their Tactics

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Last Updated on October 21, 2022 by Bitfinsider

Ripple and the other parties named as defendants in the important XRP lawsuit brought by the US SEC have been successful in achieving a significant victory. In a significant turn of events, the commission appears to have given up on its assertion regarding the documents related to the most talked about Hinman speech.

Ripple’s General Counsel, Stuart Alderoty, informed the company that the SEC has finally relinquished control of the Hinman Documents after a protracted battle lasting 18 months and a flurry of six court orders. On the other hand, these documents do not carry any evidence that determines whether or not XRP is a security.

The Hinman docs consist of emails sent within the SEC as well as drafts of the notorious speech that Chairman Hinman gave in 2018 in which he suggested that Bitcoin and Ethereum are not securities. In the meantime, Ripple’s General Counsel has stated that these documents will continue to be kept secret for the time being. He went on to say that it was well worth the effort to obtain these memos.

After receiving the documents, Alderoty stated that they felt good about their legal arguments in court, and the team is feeling much better now as a result of this positive development. In the meantime, he was troubled by the strategies that were criticized by the SEC in the XRP lawsuit. After the SEC handed over the crucial documents, he has an even more negative opinion of the agency.

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