Ripple Vs. SEC: Judge Strikes SEC’s Request To Withhold Emails From Lawsuit

The lawsuit between Ripple and the SEC has been ongoing for a while now. Check out the latest reports about the issue and learn how a judge killed the SEC’s request to withhold certain email conversations from the trial.

It’s been just revealed that the Federal Judge Sarah Netburn ordered the SEC to hand over the requested drafts and emails relating to a 2018 speech from William Hinman, the former director of the Commission’s Division of Corporate Finance.

In the speech, Hinman said Ethereum (ETH) was not a security.

The SEC sued Ripple back in December 2020. You may recall that the entity alleged that the company sold XRP as an unregistered security, a position the regulator maintains to this day.

The regulator also filed individual charges against Ripple CEO Brad Garlinghouse and the company’s co-founder, Chris Larsen.

Here’s what the judge had to say:

“As discussed above, the question is whether any of the communications about, edits to, or comments on drafts of the Speech were not just related to specific deliberations facing the agency but comprised an ‘essential link’ in those deliberations.”

The same judge continued and said:

“Having reviewed the documents, I find that, in general, agency staff communications about edits to the Speech—and the edits themselves—were not part of deliberations about how to communicate agency policy.”

Ripple is making headlines again due to the latest achievement. It’s been just revealed that The Arab Monetary Fund (AMF), a sub-organization of the Arab League, has named global payments network RippleNet as a possible alternative to central bank digital currencies (CBDCs).

In a new report, it’s been revealed that the AMF’s Arab Regional Fintech Working Group says there is considerable risk for a nation to issue a CBDC, including the possibility that local currencies eventually lose their basic utility.