- U.S. District Court Judge Analisa Torres has rejected the SEC’s request to withhold the popular Hinman documents.
- The Hinman documents include a speech by the former SEC’s Finance Divisional Director saying that Ethereum is not a security.
- The price of XRP has risen more than 20% since the ruling, with bulls eyeing $0.5 for XRP.
The Securities and Exchange Commission (SEC) case with Ripple Labs has taken several twists and turns over the past 20 months, many of them going in the direction of Ripple.
Ripple Labs recorded another win over the SEC on Thursday, when U.S. District Court Judge Analisa Torres ruled against the publication of documents written by the former SEC director. The SEC has fought against admitting those documents as evidence, with Ripple claiming the documents are fundamental in his case.
The documents, now popularly known as the Hinman documents, relate to a speech by William Hinman, a former director of the Commission’s Finance Department, at Yahoo’s Finance Market Summit in 2018. During the summit, Hinman stated that the Commission Don’t think of Ethereum (ETH) as a security that Ripple Labs has defended, accusing the Commission of targeting the company.
Judge Torres rejected the SEC’s motion after a decision by U.S. District Judge Sarah Netburn in July that the documents are not protected by attorney-client privilege and deliberative process privilege. The court’s decision to publish the documents changes the case in Ripple’s favor by claiming that XRP is not a security.
The Commission has filed suit against Ripple Labs and two executives for raising $1.3 billion by offering securities to the public in December 2020. With applications for summary judgment already filed, the end is in in sight for a case that has gripped the entire digital asset industry for nearly two years.
XRP goes on the run
XRP has shown positive signs of a bull run amid reports of the long-running legal battle with the SEC going into its final act. The price of the sixth largest virtual currency rose 20% to $0.503 after the court ruling, and with the second ruling in favor of Ripple in September, bulls want to make the $1 a new benchmark for XRP and eventually the Overshadowing the $20 Milestone.
To end the day in ecstasy, a fake photo of Bart Simpsons, a character from The Simpsons, who predicted the price of XRP at the end of the year at $539, broke the internet, with many using the joke to spread the word. bull run to justify. The Simpsons have built a reputation for predicting remarkable world events in episodes before they actually happen.
#XRP #Monster #Bull #Run #Scheduled #XRP #SEC #Legal #Brawl #Act