Huge win for XRP – SEC’s motion to reconsider DDP decision is denied

Revolutionary change in SEC's approach: XRP deemed worthless - The right way to go?

The Ripple vs. SEC case continues and another significant victory for the XRP coin issuer. Could it be that the win is getting closer?

SEC application rejection

In the last material on the battle fought between Ripple and the SEC, titled “SEC vs. Ripple: Another document proves XRP is not a security”, we reported on Perkins Coie’s opinion submitted to the then Director of the Division of Corporation Finance on behalf of the SEC, William Hinman. The document was a sort of legal advice to Ripple, which was supposed to be of interest to the official himself at the time. Three months later, there was a speech he gave at a conference in San Francisco in which Hinman stated (presumably based on this information) that Bitcoin and Ether are not securities. However, the SEC distances itself from his statement by suggesting that it was merely a meaningless private opinion. Interestingly, the court shows a slightly different attitude here.

Judge Sarah Netburn ordered the SEC to include among the trial documents an email with a draft of Hinman’s speech on Bitcoin and Ethereum. The Securities and Exchange Commission’s argument here was that such documents are protected by DPP (deliberate process privilege) because Hinman’s speech reflects the office’s policy. DPP is a form of exemption for the government from disclosing certain documents in a case. This is to ensure their confidentiality.  However, the judge found that the views of officials are not protected by such a privilege. She also found that the emails “were neither pre-decisional nor deliberate.”

Because SEC officials express varying views on Hinman’s statements depending on the situation, Judge Netburn wrote in her decision:

“The SEC tries to have it both ways, but the speech was either intended to reflect agency policy or it did not. By insisting that the speech reflected Hinman’s personal views, the SEC cannot now reject its own position.”

Former federal prosecutor James K. Filan says this is a very big win for Ripple.

For now, the SEC has a chance to appeal this decision. There are two weeks to do so. Otherwise, Ripple will have a very strong argument on its side, which it has been fighting for a long time and which may speed up the road to the end of the process.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load