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"Worth the Fight": Ripple's General Counsel Confirms Receipt of Hinman Documents

 


The San Francisco fintech company Ripple is one step closer to winning the current court case with the US Securities and Exchange Commission.


On Oct. 21, Ripple's general counsel, Stuart Alderoty, confirmed on Twitter that after "18 months and 6 court orders," the company was finally holding the hard-to-get documents. At the request of the SEC, however, these should remain under lock and key.


"It was worth the fight to get them," he explained. He added: 


"I've always had a good feeling about our legal arguments, and now I feel even better. I've always had a bad feeling about the SEC's tactics, and now I feel even worse."

The disputed documents concern a 2018 speech by former SEC chief William Hinman on the status of ether The Securities Supervision pulled out all the stops in order not to have to hand over these documents.


In late September, US District Judge Analisa Torres denied the SEC's second attempt to withhold the documents . 


At the time, Hinman explained that ETH was not a security. Ripple sees this as an important argument in its case against the regulator . This accuses the company of an unregistered sale of securities via its native token XRP 

Jeremy Hogan, a partner at Hogan & Hogan, commented that based on these documents, "we're really going to see how strong each position is". At the same time, it remains to be seen how the SEC will react. He added the briefs are scheduled for release on October 24.


Ripple CEO Brad Garlinghouse took to Twitter , saying the SEC's behavior was shameful and shocking:


"The SEC wants you to believe that disclosure, transparency and clarity are important to them. Don't believe them. When the truth finally comes out, you will be shocked at how shameful their conduct in this case is."

The XRP course has apparently not yet reacted to this latest development. In the past 24 hours, the token is down 3.2 percent to $0.446, according to CoinGecko.


However, Ripple's momentum has been strong over the past few months as the case nears closure. But XRP is still 87 percent below its all-time high of $3.40 from January 2018.

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