XRP Lawsuit: Ripple Proves Greater Resilience In SEC Case As It Looks To Net Groundbreaking Win

The Judge’s Decision

Ripple recently scored a notable win in their legal tussle with the SEC. This occurred as U.S. Magistrate Judge Sarah Netburn ruled that emails surrounding a speech given by a high-ranking member of the commission on Ethereum in 2018 were not qualified to be protected by Deliberative Process Privilege.

A speech that was given at the time by the then Director, Division of Corporate Finance of the SEC, William Hinman, disclosed to participants at a Yahoo Finance Crypto Summit that Ethereum, a cryptocurrency like Ripple’s XRP, was not a security. He added that the token was well decentralized.

The speech has become a point of contention in the year-long legal battle that has seen the SEC assert that Ripple and its co-founders were aware that XRP was a security that needed to be registered with the SEC but went ahead and sold it without following due procedure.

Ripple’s team has sought to bring to light the premise on which the regulatory body decided that Ethereum was not a security, in hopes that it would enable them to also reveal inconsistencies in the suit against them and prove that XRP is also not a security.