SEC Appeals Ripple’s Summary Decision Request!

with the American Securities and Exchange Commission (SEC) Ripple (XRP) This week, new developments were recorded in the case between the two. The SEC and Ripple appealed against each other’s request for summary judgment.

Both sides denied each other’s summary request last Friday. If the summary decision request is accepted, the hearings will be suspended for a long time. The SEC has cited Ripple as the reason for appealing the summary decision. “sales of securities in a registered manner” showed. Ripple, on the other hand, argues that digital assets are not a security.

Important Documents Announced!

The Ripple side has long demanded that the SEC disclose some documents. The trial judge accepted Ripple’s request and some oral and written documents from William Hinman, one of the SEC executives, were examined.

According to William Hinman’s documents, the SEC has in the past Ethereum He planned to classify it as a security. As a result of the review, the authorities concluded that the ETH transactions do not contain a security.

The documents of the SEC official strengthened the hand of the Ripple side. The defense is trying to refute the claims of the institution by stating that the action the SEC took for Ethereum before should also be taken for Ripple.

Crypto Lawyer: It Doesn’t Matter What SEC Official Says!

Phenomenal lawyer operating in the field of crypto law John E Deatonthinks that the SEC executive’s rhetoric doesn’t make any sense.

Deaton, Ripple itself “joint venture with profit expectation” claims to be identified. Therefore, XRP will be considered a security, according to the lawyer.