Sign Up on MEXC
XRP Lawsuit News: The US District Court of the Southern District of New York recently produced a decision in favor of Ripple Labs on the Hinman speech linked documents and emails dispute. A legal expert suggests that the recent court ruling might have led the US SEC to change its disclaimer text when its executive speaks in a public gathering.
Also Read: Ripple Exploring IPO As SEC Lawsuit Nears Its End?
US SEC Lossing Its Hold In XRP Lawsuit?
According to Ben Edwards, the US Securities and Exchange Commission (SEC) tweaked its disclaimer for public speeches. It now mentions a statement that the remarks given by the officials are in their official capacity. It is expected that redaction came in response to the Ripple Lab’s discovery dispute.
The crucial dispute on then SEC Director Bill Hinman’s 2018 speech is around the legal status he gave out to Ethereum. However, the commission tried to hide the internal communication which led to the infamous speech. It argued that whatever the former executive said was his personal views and it did not represent the agency’s position, decision, or policy. Read More XRP Lawsuit News…
US SEC recently used the changed Introductory Disclaimer in the court filings against Coinbase. It stated that the public statements made by Chair Gensler are not formal guidance or policy statements from the commission. It added that the public cannot rely on these as statements.
Also Read: Ripple Escrow Unlocked; Whales Dump 100 Million XRP
Watchdog And Its Assertions
It is important to note that the US SEC changed its assertion on the speech couple of times. The judge in the order mentioned the Hypocritical position taken by the commission over the speech and documents. She stated that the SEC’s lawyers “lack a faithful allegiance to the law.”
However, the newly replaced disclaimer might help the commission to support its stance to withhold documents in discovery. This will align with an exemption that allows federal agencies to hide crucial details.
- Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes
- SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes
- Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze
- Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500
- MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
- ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?
