Ripple CEO: Hinman Emails Will Bring ‘To Light’ Reasons For SEC Action
Cryptocurrency company Ripple has been embroiled in legal battles alongside the U.S. Securities and Exchange Commission (SEC) over the past year. Now, Ripple CEO Brad Garlinghouse is saying emails from a former SEC head could help his case.
SEC Classifies XRP as a Security
The SEC filed a lawsuit against Ripple and its executives in December 2020, classifying the company’s native crypto asset, XRP, as a security. The lawsuit accuses Ripple of selling unregistered securities to investors for over $1 billion in illegal profits.
Garlinghouse Comments On Hinman Emails
Recently, Garlinghouse commented that emails from former SEC head Jay Clayton and the former director of the SEC’s Division of Corporate Finance, William Hinman, could shed light on Ripple’s legal problems.
Garlinghouse specifically mentioned emails that Hinman sent regarding Ripple and XRP, saying that they will bring into “the light” the reasoning that has lead to the SEC to take action against the company.
Ripple Plans to Fight SEC Action
Garlinghouse has maintained that the legal battle with the SEC will continue. He and Ripple are confident that they will win their case, as Garlinghouse believes XRP should not be classified as a security. Garlinghouse believes that the emails sent by Hinman could be instrumental in helping their case.
Funny Final Comment
Garlinghouse ended by quipping that getting those emails was “like a scene out of a movie”, adding a light-hearted, humorous element to the situation.
It remains to be seen whether the emails from Hinman will actually be beneficial to Ripple’s case, but one thing remains clear: Garlinghouse and Ripple are all in for this fight.
Cheer up XRP holders, you never know what revelations might be coming to light!
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