The SEC’s legal action against Ripple commenced in December 2020, and currently, XRP is priced at $0.5285.
Ripple CEO Brad Garlinghouse took to Twitter, expressing his satisfaction with the long-awaited “Hinman documents,” suggesting their potential significance in the ongoing legal battle with the SEC. His tweet indicates that the documents could hold valuable insights for Ripple’s defense.
@bgarlinghouse, any thoughts ahead of the "Hinman doc" release?
We are all appreciate of Ripple fighting for this important public disclosure.
— Jungle Inc (@jungleincxrp) June 12, 2023
During a Twitter exchange with Jungle Inc, a cryptocurrency YouTuber, Ripple CEO Brad Garlinghouse shared that he and Ripple’s chief legal officer Stuart Alderoty view the unsealed “Hinman documents” as validating the 18-month legal battle, while also exercising caution within the boundaries of their authority.
In a suggestive tweet, Ripple CEO Brad Garlinghouse implies that the eagerly awaited Hinman documents could hold pivotal information regarding the regulatory status of digital assets, including XRP. Given Ripple’s ongoing legal dispute with the SEC concerning the classification of XRP as a security, the content of these documents is expected to carry significant weight in the case.
The “Hinman documents” pertain to internal communications within the SEC related to a 2018 speech delivered by former SEC Director William Hinman. In his speech, Hinman put forth the idea that certain cryptocurrencies like Bitcoin and Ether could initially be classified as securities. However, as they achieve a significant level of decentralization, they could potentially evolve into entities resembling commodities.
The SEC’s legal action against Ripple began in December 2020, alleging that the sale of XRP constituted an unregistered securities offering. As of now, XRP is priced at $0.5285, with a 24-hour trading volume of $1,194,706,040. Over the past 24 hours, XRP has experienced a 2.39% increase in value, according to CoinMarketCap.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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