- The court scheduled a conference call to discuss the Hinman documents which are part of the SEC vs. Ripple case.
- Ripple CEO has said that Ripple is growing despite the industry’s slump.
- The SEC has filed a response opposing the Ripple Defendants’ Motion.
On June 7th, the court will have a conference call to discuss the “Hinman documents”, which are part of the Ripple vs. SEC case. The development has sparked a lot of discussion in the crypto community, and it is believed that these documents would guarantee a win for Ripple if admitted to the court, thus bringing an end to the long-running Ripple vs. SEC case.
The SEC’s Former Director William Hinman’s controversial Ethereum speech memoranda have been shielded by the SEC due to various claims. The commission recently contended that the internal records are protected by the attorney-client privilege. The organization asserts that the former director received legal counsel from lawyers, and additional staff members are included. Emails and drafts provided him with suggestions for his speech.
The conclusion of the conference call meeting might have significant impacts on the crypto sector as a whole. Hinman said in 2018 that neither Bitcoin (BTC) nor Ethereum (ETH) are securities. In August 2021, Ripple Labs asked the court to compel. The request sought that the SEC produce all records pertaining to the speech.
More than a year has passed since the SEC brought accusations against Ripple, initiating what is now the most keenly followed legal conflict in the cryptocurrency industry.
At a time when cryptocurrency is spreading fast but simultaneously coming under increasing regulatory scrutiny, success for Ripple would be a watershed moment for the industry.
The Long-Running Court Case Between Ripple and SEC
Ripple has been embroiled in a protracted legal dispute, which has seriously tarnished its image. As a consequence, many investors are selling off their holdings, while just a few remain confident about large profits.
During this period of hysteria, XRP investments are only a chance for investors who have abandoned high-risk assets. Investors who withdrew funds from risky ventures have sought trustworthy investment opportunities.
The CEO of Ripple, Brad Garlinghouse, maintains that the company is growing despite the crypto market’s current slump. In the first quarter of 2022, the volume of On-Demand Liquidity, the company’s XRP-powered cross-border payment service, increased to $8 billion from $1 billion in the same time of the previous year.
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