{"id":284051,"date":"2023-05-25T19:26:56","date_gmt":"2023-05-25T17:26:56","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=284051"},"modified":"2023-05-25T19:27:47","modified_gmt":"2023-05-25T17:27:47","slug":"historic-game-changing-move-for-ripple-sec-confirmed-xrp-is-not-a-security-prior-to-hinman-speech-is-xrp-poised-to-reach-20-report","status":"publish","type":"post","link":"https:\/\/crypto-news-flash.com\/de\/historic-game-changing-move-for-ripple-sec-confirmed-xrp-is-not-a-security-prior-to-hinman-speech-is-xrp-poised-to-reach-20-report\/","title":{"rendered":"Historic Game-Changing Move for Ripple: SEC Confirmed XRP is Not a Security Prior to Hinman Speech &#8211; Is XRP Poised to Reach $20? Report"},"content":{"rendered":"<ul>\n<li><strong>The Ripple vs SEC lawsuit has taken a new twist with new revelations.<\/strong><\/li>\n<li><strong>The current position is that the latest discoveries can stir the company&#8217;s win.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p><span style=\"font-weight: 400;\">New information has <\/span><a href=\"https:\/\/www.crypto-law.us\/wp-content\/uploads\/2022\/10\/10182022-Ripple-Memo-of-Law-Opposition-to-SEC-MSJ.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">surfaced<\/span><\/a><span style=\"font-weight: 400;\"> in light of the Ripple Labs vs the United States Securities and Exchange Commission (SEC) court case indicating that the regulator previously confirmed that XRP is not security long before the Hinman speech was even delivered. This discovery was made by pro-XRP lawyer and the founder of Crypto Law John Deaton.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He <\/span><a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1660301659887616000\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">posted<\/span><\/a><span style=\"font-weight: 400;\"> a Twitter thread with a screenshot of a small footnote in a Ripple opposition brief from last year confirming a discussion with SEC staff prior to the Hinman speech.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen you look at all the other SEC-LIT-EMAILS cited in Ripple\u2019s opposition, they are redacted. The one about there being reasonable grounds to not believe XRP satisfies all the Howey factors is not redacted,\u201d Deaton tweeted alongside the expository screenshot.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Read this short \ud83e\uddf5 please. When you look at all the other SEC-LIT-EMAILS cited in Ripple\u2019s opposition, they are redacted. The one about there being reasonable grounds to not believe XRP satisfies all the Howey factors is not redacted. <a href=\"https:\/\/t.co\/qoaCbjk7rg\">https:\/\/t.co\/qoaCbjk7rg<\/a> <a href=\"https:\/\/t.co\/Nc6kfNMJ4c\">pic.twitter.com\/Nc6kfNMJ4c<\/a><\/p>\n<p>&mdash; John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1660301659887616000?ref_src=twsrc%5Etfw\">May 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">This revelation will be a major game-changer for Ripple seeing that the lawsuit has lingered for too long. In December 2020, the U.S. regulator <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/offiziell-sec-reicht-klage-gegen-ripple-ein-was-passiert-im-worst-case\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">filed<\/span><\/a><span style=\"font-weight: 400;\"> the lawsuit against the blockchain payments firm, its Chief Executive Officer (CEO) Brad Garlinghouse as well as the Co-Founder, Chris Larsen, for the sales of unregistered securities. Precisely, the filing stated that Ripple had raised over $1.3 billion through an unregistered, ongoing securities offering for the XRP coin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, Ripple has been arguing against the SEC\u2019s stance stating that XRP is not a security and should therefore not be regarded as such.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the weeks following SEC\u2019s charge, several XRP investors filed a <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/xrp-investoren-ergreifen-rechtliche-schritte-nach-sec-klage-gegen-ripple\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">petition<\/span><\/a><span style=\"font-weight: 400;\"> against the regulator and its then-acting chairman Elad Roisman. In their argument, they claimed SEC\u2019s action against Ripple does not sync with its mission statement to \u201cprotect investors, promote fairness and share information about companies\u2026to help investors make informed decisions and invest with confidence.\u201d<\/span><\/p>\n<h2><b>Ripple vs SEC: William Hinman Speech Controversy<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The earlier classification of Bitcoin (BTC) and Ethereum (ETH) as non-securities by the market regulator was referenced as one of the reasons why XRP is not securities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, the statement of Brian Brooks who was at the time the Acting Director of the Office of the Comptroller of the Currency (OCC) was called to remembrance. Brooks had suggested that the government can use platforms like Ripple to replace the SWIFT system.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These petitions did not make any significant change to the lawsuit until Ripple began to talk about a speech by William Hinman, a one-time director of corporate finance at the SEC. Hinman clearly declared that BTC and ETH are not securities and this became a point of controversy for the SEC and an assumed <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/sec-ripple-prozess-umstrittene-hinman-rede-liegt-vor-es-wird-eng-fuer-die-behoerde\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">winning<\/span><\/a><span style=\"font-weight: 400;\"> point for Ripple.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consequently, Ripple fought for a <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/ripple-will-ehemaligen-sec-abteilungsleiter-befragen-sec-wehrt-sich-dagegen\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">deposition<\/span><\/a><span style=\"font-weight: 400;\"> of the former director while the SEC <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/sec-nicht-von-ethereum-kontrolliert-um-ripple-anzugreifen-cardano-schoepfer-charles-hoskinson-klaert-auf\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">opposed<\/span><\/a><span style=\"font-weight: 400;\"> it. Recently, District Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that the SEC cannot hold back the Hinman document as they are relevant to the judiciary process, therefore, it is expected to be <\/span><a href=\"https:\/\/www.crypto-news-flash.com\/de\/sec-veroeffentlicht-historische-hinman-rede-xrp-kurs-ruestet-sich-fuer-ein-grandioses-comeback\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">turned over<\/span><\/a><span style=\"font-weight: 400;\"> to the public after Ripple Labs has drawn its defense with them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the broad optimism of massive XRP price growth up to $20 by pundits, it is not certain how this revelation would influence the price of XRP in the long term but at the time of this writing the token was trading at $0.4502.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ripple vs SEC lawsuit has taken a new twist with new revelations. The current position is that the latest discoveries can stir the company&#8217;s win. New information has surfaced in light of the Ripple Labs vs the United States Securities and Exchange Commission (SEC) court case indicating that the regulator previously confirmed that XRP<\/p>\n","protected":false},"author":72,"featured_media":226396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-284051","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":[],"_links":{"self":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/284051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/users\/72"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/comments?post=284051"}],"version-history":[{"count":0,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/284051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media\/226396"}],"wp:attachment":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media?parent=284051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/categories?post=284051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/tags?post=284051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}