- A federal court has granted them access to SEC emails.
- XRP is up 1.98% in the last 24 hours.
In their long-running legal battle with the Securities and Exchange Commission, Ripple has scored a modest victory (SEC). A federal judge has granted Ripple access to SEC correspondence that they hoped may enable them to prove their case.
The SEC’s legal battle with Ripple has now ended with a short victory for the company. An email from a high-ranking member of the commission on Ethereum in 2018, was deemed ineligible to be protected by Deliberative Process Privilege by the U.S. Magistrate Judge Sarah Netburn.
The Token is Well Decentralized
William Hinman, the SEC’s then Director, Division of Corporate Finance, revealed at a Yahoo Finance Crypto Summit that Ethereum, a cryptocurrency similar to Ripple’s XRP, was not a security. He has stated that “The token is properly decentralized”.
The SEC has argued for over a year, that Ripple and its founders were aware of the requirement to register XRP as a security with the SEC but went on and marketed it nevertheless, despite this knowledge.
The Ripple team published a paper this week describing the assumptions that authorities used to determine that Ethereum was not a security, in the hopes of uncovering contradictions in their complaint and demonstrating that XRP is not a security, as they say.
Sarah Netburn, the U.S. Magistrate Judge concluded that because the records did not establish any vital ties to discussion procedures, they could not be protected by privilege. According to CoinMarketCap, the XRP price today is $0.758272 USD with a 24-hour trading volume of $1,032,481,319 USD. XRP is up 1.98% in the last 24 hours.
