The XRP price increases by 9 %because the judge overrides the SEC

Hinman's speech, which was held on the Yahoo Finance All Market Summit in June this year, finds the former director that Ether was not regarded as security - a controversial point of Ripple hopes to deal with the regulatory authority in his defense.

The judge Sarah Netburn against the Sec and her attempts to hold the documents follows Ripple in February and again in April.

rippledie defense is based on the argument that if Ether was not considered a securities at the time, why should XRP - probably more similar to a currency - are subject to the securities rules? At least that's how it works.

In December 2020, on the other hand, the SEC lawsuit submitted a ripple as well as the former and current CEOs Brad Garlinghouse and Chris Larsen, who claimed that the company and its managers had violated securities laws in 2013 when they tried to get funds without registering with the agency beforehand.

The focus of the case was the discovery of documents, including emails related to Hinman's statements from which the SEC tried to argue that they fall under the deliberative process privilege (DPP).

dpp protects certain preliminary decision -related, internal authorities from disclosure during a legal dispute and is a fairly widespread provision in most established democracies, including in the USA and Australia.

Both parties of the lawsuit agreed that the case of judge Torres should be decided in a summary judgment that is expected in the coming months.

XRP was the biggest winner that day, closely followed by the Bitfinex stock exchange token Unus Sed Leo (Leo) and Stellar (XLM)-Ripple co-founder Jed McCaleb follow-up project-at 6.5 % or 6 % at the time of printing.

All other cryptos in the top 50 after market capitalization recorded mixed profits, with Bitcoin adding about 1 % that day.