In another installment of its legal struggle against the U.S. Securities and Exchange Commission (SEC), US blockchain firm Ripple has obtained a positive ruling from a U.S. District Court Judge in Manhattan who overruled the regulator’s attempts to withhold documents from the fintech.
The document, shared by Ripple’s lawyer James K. Filan, shows that Judge Analisa Torres overruled the agency’s objections and directed the SEC to comply with Ripple’s request. The regulator is now required to disclose drafts of a 2018 speech made by William Hinman, the former Director of the SEC’s Division of Corporation Finance, in which he declared that bitcoin (BTC) and ethereum (ETH) are not securities, and for this reason, they are not subject to the regulator’s oversight.
The SEC’s case against Ripple is based on its claim that the company’s token, Ripple (XRP), should be considered a security, and its sale to investors violated the U.S. securities regulations. In contrast with the SEC’s stance,...
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