While Ripple was once shown as one of the brightest blockchain companies, it was completely destroyed by the securities lawsuit filed.
US Securities and Exchange Commission (SEC) XRP is a security in the lawsuit filed by RippleIt was alleged that he was selling securities. Ripple, on the other hand, made an important defense against it.
Decision Made on Hinman’s ETH Speech
At the core of Ripple’s defense is BTC and ETHExplaining why XRP is a security while XRP is not a security.
Especially from former top executives of the SEC. by William Hinman The statement made by ETH about not being a security was one of the key points of the case.
Ripple requested to see the SEC’s internal discussions on this matter, but this was denied. Now, an important permission has been given in favor of Ripple.
In the decision given by the Federal Judge, it was emphasized that e-mails related to the talk about Ethereum in 2018 cannot be considered confidential and should be shared.
Ripple was trying to gather evidence on how Hinman made such a decision about ETH, and thus the desired opportunity came.
It is now known that Ripple can use the data here to prove that XRP is not a security.
Judge Sarah Netburn emphasized that internal conversations cannot be shown for confidentiality reasons, but that the conversations covering Hinman’s speech about ETH are key to the case. This news may change the case.