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Judge orders SEC to turn Hinman documents over to Ripple Labs after months of dispute
Ripple Labs scored a victory in its continuing legal battle with the United States Securities and Exchange Commission (SEC) on Sept. 29 as U.S. District Court Judge Analisa Torres ruled to release the documents written by former SEC Corporation Finance Division Director William Hinman. The documents predominantly relate to a speech Hinman delivered at the Yahoo Finance All Markets Summit in June 2018.
Hinman stated in his speech that Ether (ETH) was not a security. Ripple Labs considers the speech a key piece of evidence the case the SEC has brought against it alleging that sales of Ripple’s XRP violated U.S. securities laws — though time has yet to tell whether the language used in the speech will be as meaningful as the company suggests. The circumstances surrounding the speech and Hinman’s actions leading up to it are a source of considerable confusion. (cointelegraph)
Ripple gets massive support from 2 huge companies in the SEC case.
I-Remit, a Philippines-based cross-border remittance company, and Privat jet charter company, Tap Jets have filed an application to file an amicus brief in support of the Ripple Defendants’ Motion for Summary Judgment. (Crypto New Flash)
SEC Must Turn Over Emails About Ethereum
Ripple notched another procedural victory late this week in its ongoing legal battle with the Securities and Exchange Commission, which sued the crypto payments firm in 2020 for the unregistered sale of $1.3 billion worth of XRP—a cryptocurrency originally created by Ripple’s founders.
On Thursday, a federal district judge overruled the SEC’s repeated attempts to prevent Ripple from accessing internal SEC emails pertaining to a key speech on the regulatory status of competing cryptocurrency Ethereum. Ripple believes the emails will help its case and shed light on the ways in which the SEC has “picked two winners” in the crypto space, Bitcoin and Ethereum, while shunning the rest. (Decrypt.co)