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Unveiling the Ripple-SEC Battle: New Evidence Confirms XRP Discussion
The ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC) has taken an intriguing turn. Pro-XRP lawyer John Deaton recently discovered a small but crucial footnote in a Ripple legal brief from 2022. This footnote indicates that XRP was indeed discussed among SEC staff before the pivotal Hinman speech. This revelation has the potential to significantly impact the lawsuit, as internal debates within the SEC over XRP’s classification as a security could influence the outcome. In this article, we delve into the details surrounding this newfound evidence and its implications for both Ripple and XRP holders.
Background of the Ripple-SEC Lawsuit
To understand the significance of the recent discovery, let’s first review the background of the Ripple-SEC lawsuit. In December 2020, the SEC filed a lawsuit against Ripple Labs Inc., the company behind XRP, alleging that the sale of XRP tokens constituted an unregistered securities offering.
Ripple has staunchly denied the SEC’s claims, contending that XRP does not meet the criteria set by the Howey test. The Howey test is a legal framework used to determine whether a transaction qualifies as a security. Ripple argues that XRP is a digital asset and should be treated as…
