SEC, although sealed, long-debated Bill HinmanHe submitted his documents to the court.
There have been developments between Ripple and the US Securities and Exchange Commission (SEC), which have been moving for a while. There was one more development in which mutual answers, objections and claims were put forward. After the Hinman documents were presented to the court Elon Muskmade a comment on the subject.
Elon Musk Comments on Ripple and SEC Case
General Counsel of Ripple Stuart Alderotyannounced that the U.S. Securities and Exchange Commission (SEC) has finally complied with a court order to deliver the long-requested Hinman documents.
Alderoty made the announcement via Twitter, calling the move a victory for Ripple as the documents strengthened the blockchain company’s legal arguments.
Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them.
— Stuart Alderoty (@s_alderoty) October 20, 2022
Ripple CEO Brad Garglinghouse also made a post by quoting Stuart Alderoty’s post. In sharing; “The SEC wants you to think it cares about disclosure, transparency, and clarity. Don’t believe them. “When the truth finally comes out, the embarrassment of his behavior here will shock you,” he said.
Elon MuskOn the other hand, under the Twitter post of Ripple CEO, he gave a surprising response as “Not possible”.
No way
— Elon Musk (@elonmusk) October 21, 2022
Meanwhile, Ripple remains uncompromising in its position, keeping the SEC’s view that XRP, the native token of the XRP Ledger blockchain, has no legal basis to prove it is a security.
