It is my idea for long term XRP
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Ripple Labs Inc. has obtained internal Securities and Exchange Commission emails and other documents that it says could help turn the tide in its high-profile fight with the commission over the fate of its XRP crypto token.
The so-called Hinman documents—handed over by the SEC on a judge’s order—remain confidential, Ripple’s general counsel, Stuart Alderoty, tweeted Thursday, adding: “I’ve always felt good about our legal arguments, and I feel even better now.” A Ripple spokeswoman confirmed the company has obtained the documents.
Many of the documents relate to a 2018 speech given by William Hinman, former SEC director of Corporation Finance. In the speech, Hinman discussed the application of federal securities laws to digital assets, a topic that became critically important for the company in 2020, when the SEC said it was suing Ripple and its top executives, arguing that it misled buyers of its XRP token by failing to register it as a security and failing to provide sufficient disclosure.
Ripple maintains that XRP is instead a commodity, and thus not subject to the SEC’s jurisdiction. The outcome of the case—which centers on the legal definition of an “investment contract"—could have a major impact on SEC Chair Gary Gensler’s effort to gain regulatory authority over the cryptocurrency space. The crypto industry has broadly backed Ripple, calling on Gensler to let Congress lead on crypto regulation.
Last news 🔥
Ripple Labs Inc. has obtained internal Securities and Exchange Commission emails and other documents that it says could help turn the tide in its high-profile fight with the commission over the fate of its XRP crypto token.
The so-called Hinman documents—handed over by the SEC on a judge’s order—remain confidential, Ripple’s general counsel, Stuart Alderoty, tweeted Thursday, adding: “I’ve always felt good about our legal arguments, and I feel even better now.” A Ripple spokeswoman confirmed the company has obtained the documents.
Many of the documents relate to a 2018 speech given by William Hinman, former SEC director of Corporation Finance. In the speech, Hinman discussed the application of federal securities laws to digital assets, a topic that became critically important for the company in 2020, when the SEC said it was suing Ripple and its top executives, arguing that it misled buyers of its XRP token by failing to register it as a security and failing to provide sufficient disclosure.
Ripple maintains that XRP is instead a commodity, and thus not subject to the SEC’s jurisdiction. The outcome of the case—which centers on the legal definition of an “investment contract"—could have a major impact on SEC Chair Gary Gensler’s effort to gain regulatory authority over the cryptocurrency space. The crypto industry has broadly backed Ripple, calling on Gensler to let Congress lead on crypto regulation.