The new documents that emerged in the two-and-a-half-year-long lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC) were on the agenda of the discussions.
As the litigation between Ripple and the SEC draws to a close, emails agenda it happened. In this document submitted to the court by Ripple and containing the e-mails belonging to the SEC, Howey’s test explanations came to the fore.
In the details of the correspondence, XRP from the Howey test completely could not pass for There are “reasonable grounds” for concluding that it is not a security statements did not go unnoticed. documents, attorney and CryptoLaw founder John Deaton revealed by.
XRP is used to determine whether an asset is a security. from the Howey test Failure to pass represents a very important move for the case.
on the other hand Hinman documents named and former SEC Director William Hinman by 2018 These recordings, which include a speech delivered in the year 2000, continue to play a critical role in the case. In his talk, Bitcoin (BTC) and Ethereum (ETH) securities The following statements of Hinman, stating that there is no in the center took place:
Aside from the fundraising activities that accompanied the creation of Ether, the current offerings and sales of this asset are not securities transactions, given the Ethereum network and its decentralized nature.
Speaking to the community on Twitter Space recently John DeatonWhile stating that the Hinman documents will magnify conflicts of interest, Ripple’s that it is difficult to achieve a 100% victory suggested:
It’s disturbing, but maybe not as shocking as people think, because frankly, there’s been a huge backlog for it. When these emails come out, I believe the conflicts of interest will be highlighted even more. I think the chances of Ripple to achieve a complete victory are much weaker than I felt before. I still don’t think the SEC will have a complete victory either.
In addition, Deaton said about the court case that has been going on for two and a half years. your decision While accepting that it can come out at any time, it may take a month or longer he also added.
The SEC and Ripple recently took a joint decision to issue the Hinman documents. June 6 until made public documents redacted versions of to be published for one week extension had requested.