Ripple gets another win in the ongoing securities lawsuit with SEC. Recently, the SEC asked the court to allow them to review certain documents. However, the judge denied the request as it wasn’t related to the prosecution. The Ripple lawyer called it a very big win for them. And it also shows that the case is much in favor of them and not the SEC, especially after the revealing of the emails.
Ripple vs SEC
The SEC recently requested the judge in the case to reconsider shielding the documents that were related to the 2018 speech. However, the judge Sarah Netburn denied it on the basis of the speech given by Hinman, saying that Bitcoin and Ethereum are not securities. The SEC didn’t object to those documents when they were first called for as they claimed they showed Hinman’s personal views and not the SEC. But now they said that it reflected Ripple’spolicies and not Hinman’s views and therefore needs to be shielded.
The SEC got an apt reply from the judge thereafter. They were asked not to contradict themselves and change their assertions. The SEC wants to have it both ways, but since they have already said that it showed Hinman’s personal views, they cannot change their assertions now, said the judge.
After this ruling by the judge, the Ripple community was stoked as they knew what a big win this was. If the emails and the speech didn’t hold in the court, it would have been all for nothing. The SEC still has 2 weeks to appeal the decision. Let’s see if it comes up with a counter.
Is Ripple on the verge of winning?
It seems like we will see Ripple win this case by the end of 2022 or even earlier. The win might also start a rally for the coin, which the community has been waiting for a while now. But more than that, the SEC losing shows that the power struggle they are having isn’t always going to work. The authorities cannot always do as they please.
What are your thoughts as Ripple gets another win in the ongoing securities lawsuit with SEC? And do you think it is almost on the verge of winning the case? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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