Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- The SEC’s legal proceedings against Ripple commenced in December 2020.
- XRP is currently priced at $0.5285.
In a recent tweet, Ripple CEO Brad Garlinghouse remarked that the highly anticipated “Hinman documents” were “well worth the wait,” suggesting their potential significance in the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC).
Wish I could go in depth now, but we've waited this long (18+ months), I don't want to overstep… suffice it to say @s_alderoty and I believe they were well worth the wait.
— Brad Garlinghouse (@bgarlinghouse) June 12, 2023
In response to a question from Jungle Inc, a cryptocurrency YouTuber, on June 12 via Twitter, Garlinghouse indicated that he and Ripple’s chief legal officer Stuart Alderoty feel that the unsealed “Hinman documents” justify the lengthy 18-month legal battle while being careful not to exceed their bounds.
Related Posts
By implying in his tweet, Garlinghouse suggests that the long-awaited Hinman documents may offer essential insights regarding the regulatory status of digital assets, including XRP. In Ripple’s ongoing legal confrontation with the SEC concerning XRP’s classification as a security, the contents of these documents could be extremely important.
The phrase “Hinman documents” pertains to internal communications within the SEC related to a 2018 address delivered by former Securities and Exchange Director William Hinman. In that address, Hinman indicated that while cryptocurrencies like Bitcoin and Ether might initially be classified as securities, they could evolve into something akin to commodities once they achieve a significant level of decentralization.
The SEC’s legal action against Ripple was launched in December 2020, alleging that the sale of its native XRP token constituted an unregistered securities offering. According to CoinMarketCap, XRP is currently valued at $0.5285, with a 24-hour trading volume of $1,194,706,040. Over the last 24 hours, XRP has experienced a 2.39% increase in its price.
Recommended For You:
Ripple (XRP) Price Prediction 2023
