https://ift.tt/3tIkkLI Sees Positive Progress in SEC Lawsuit, Outcome Expected This Year!

• A federal court has granted them access to SEC emails.
• XRP is up 1.98% in the last 24 hours.

One minor win for Ripple in their long-running legal dispute with the Securities and Exchange Commission (SEC). To Ripple’s delight, a federal court has granted them access to SEC emails that they hoped would support their argument.

The SEC’s legal battle with Ripple just ended with a short victory for the company. An email from a high-ranking member of the commission on Ethereum in 2018 was deemed ineligible to be protected by Deliberative Process Privilege by U.S. Magistrate Judge Sarah Netburn.

The token is Well Decentralized

At a Yahoo Finance Crypto Summit, William Hinman, the SEC’s then Director, Division of Corporate Finance, revealed that Ethereum, a cryptocurrency like Ripple’s XRP, was not a security. The token is properly decentralized, he had said. For over a year, the SEC has argued that Ripple and its founders were aware of the requirement to register XRP as a security with the SEC but went on and marketed it nevertheless, despite this knowledge.

This week, the Ripple team published a paper outlining the assumption on which regulators concluded that Ethereum was not a security, hoping to uncover contradictions within their lawsuit and demonstrate that XRP is not a security, either, as they claim.

There were no vital ties to discussion procedures shown in the records; thus, they could not be protected by privilege, Judge Sarah Netburn said in her conclusion. According to CoinMarketCap, the XRP price today is $0.758272 USD with a 24-hour trading volume of $1,032,481,319 USD. XRP is up 1.98% in the last 24 hours.