Ripple CEO: Hinman docs ‘worth the wait’

With only a day until the Hinman documents are due to be unsealed, Ripple CEO Brad Garlinghouse suggests the documents will be “well worth the wait”.

On June 12, in response to a question raised by crypto YouTuber Jungle Inc. on Twitter, Garlinghouse said that while he did not want to “overstep,” he and Ripple’s chief legal officer Stuart Alderotti had submitted both documents after an 18-month battle. considered worthy. Open them

I wish I could go into depth now, but we’ve waited so long (18+ months) I don’t want to go any further… suffice it to say @s_alderoty And I believe they were worth the wait.

— Brad Garlinghouse (@bgarlinghouse) June 12, 2023

Hinman documents refer to internal SEC messages related to 2018 speech given By former Securities and Exchange Director William Hinman. In the speech, Hinman said that while cryptocurrencies like bitcoin (BTC) and ether (ETH) may start out as securities, it is possible for them to become something more akin to a commodity once they become decentralized enough. Go.

Many Ripple advocates believe that the impending unsealing of the documents will be helpful in providing further information about the legal status of Ripple’s native XRP token.

The unsolved documents come amid extremely turbulent times for the crypto industry. June 13 will also see a federal court hearing the SEC’s motion to freeze the assets of Binance.US following legal action against the exchange.

The next 36 hours will be crucial for crypto.

Today at 5 PM: @Binance opposes SEC’s proposal to freeze assets of @BinanceUS

Tomorrow at 2 pm: Hearing on SEC’s proposal to freeze assets

Tomorrow (sometime): Summary judgment performance (including Hinman …

— MetalLawMan (@MetaLawMan) June 12, 2023

The SEC first took legal action against Ripple in December 2020, alleging that the sale of its native XRP (XRP) token represented an unregistered securities offering. Since then, Ripple has denied XRP is a security, arguing that it does not satisfy the Howey test.

Connected: Ripple Case: Pro-XRP Lawyer Advises SEC to Win ‘Less Than 3%’

While many top Ripple executives have long been predicting an imminent end to the rollercoaster lawsuit from the SEC, pro-XRP attorney John Deaton recently claimed that Presiding Judge Annalisa Torres will come to a final decision before September 30 of this year. Will go

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