XRP prices jumped 7.4% in the past 24 hours to buck nominal gains in the broader crypto market as traders likely bet on a favorable outcome for payments company Ripple Labs in its ongoing Ripple vs SEC lawsuit.
These gains came as documents tied to William Hinman, the former director of the U.S. Securities and Exchange Commission (SEC)’s Division of Corporation Finance from 2017 to 2020, were released to the public in connection with the SEC's lawsuit against Ripple Labs.
Hinman suggested in his 2018 speech that bitcoin (BTC) and ether (ETH) were not securities, in his view. “We do not need to see a need to regulate Ether, as it is currently offered, as a security,” one of the Hinman emails read.
Ripple Labs claims Hinman’s remarks at the time mean XRP should not be considered a security – which could result in a favorable outcome for the payments firm.
XRP prices jumped 7.4% in the past 24 hours to buck nominal gains in the broader crypto market as traders likely bet on a favorable outcome for payments company Ripple Labs in its ongoing Ripple vs SEC lawsuit.
These gains came as documents tied to William Hinman, the former director of the U.S. Securities and Exchange Commission (SEC)’s Division of Corporation Finance from 2017 to 2020, were released to the public in connection with the SEC's lawsuit against Ripple Labs.
Hinman suggested in his 2018 speech that bitcoin (BTC) and ether (ETH) were not securities, in his view. “We do not need to see a need to regulate Ether, as it is currently offered, as a security,” one of the Hinman emails read.
Ripple Labs claims Hinman’s remarks at the time mean XRP should not be considered a security – which could result in a favorable outcome for the payments firm.
