{"id":430832,"date":"2022-04-13T07:39:32","date_gmt":"2022-04-13T04:39:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ripple-scores-a-very-big-win-in-sec-case\/"},"modified":"2022-04-13T07:39:32","modified_gmt":"2022-04-13T04:39:32","slug":"ripple-scores-a-very-big-win-in-sec-case","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ripple-scores-a-very-big-win-in-sec-case\/","title":{"rendered":"# Ripple scores &#8216;a very big win&#8217; in SEC case"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a588531dc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a588531dc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ripple-scores-a-very-big-win-in-sec-case\/#%E2%80%9D_Ripple_scores_%E2%80%98a_very_big_win_in_SEC_case_%E2%80%9C\" >&#8221; Ripple scores &#8216;a very big win&#8217; in SEC case &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ripple_scores_%E2%80%98a_very_big_win_in_SEC_case_%E2%80%9C\"><\/span>&#8221; Ripple scores &#8216;a very big win&#8217; in SEC case &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZWI2YTRkZWMtYWI3MC00NDA0LWJhZTYtODZiMTVjMmRkNTQyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Ripple Labs has struck a blow against the Securities and Exchange Commission&#8217;s (SEC) case after the presiding judge made a ruling that one Ripple community lawyer calls \u201ca very big win for Ripple.\u201d<\/p>\n<p>The SEC filed suit in 2020 against Ripple and executives Brad Garlinghouse and Christian Larsen for selling unregistered securities.<\/p>\n<p>Presiding Judge Sarah Netburn <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.docketalarm.com\/cases\/New_York_Southern_District_Court\/1--20-cv-10832\/Securities_and_Exchange_Commission_v._Ripple_Labs_Inc._et_al\/465\/\">denied<\/a> the SEC\u2019s request to reconsider shielding documents under privilege related to a June, 2018 speech made by Ripple\u2019s then-director Willian Hinman. In the speech, Hinman said Bitcoin (BTC) and Ethereum (ETH) are not securities.<\/p>\n<p>The SEC previously did not object to those documents falling outside deliberative process privilege (DPP) protection, as it suggested they concerned only Hinman\u2019s personal views, not Ripple policies.<\/p>\n<p>The DPP exempts some documents in a case from being disclosed by the government so it can confidentially review existing policy based on the materials of the documents.<\/p>\n<p>The SEC subsequently changed tack to argue the speech reflected Ripple\u2019s policies rather than Hinman\u2019s personal views and should be shielded. <\/p>\n<p>Judge Netburn said the SEC should not contradict itself in trying to flip-flop on its assertions. In her decision, she wrote<\/p>\n<blockquote><p>\u201cThe SEC seeks to have it both ways, but the Speech was either intended to reflect agency policy or it was not. Having insisted that it reflected Hinman\u2019s personal views, the SEC cannot now reject its own position.\u201d<\/p><\/blockquote>\n<p>In summing up the critical aspects of Judge Netburn\u2019s rejection to reconsider, a Ripple community defense lawyer with an extensive case file of financial and SEC cases James K. Filan <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FilanLaw\/status\/1513650057563754497\">tweeted<\/a> today:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is a very big win for Ripple.<\/p>\n<p>\u2014 James K. Filan 90k+ (beware of imposters) (@FilanLaw) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FilanLaw\/status\/1513650057563754497?ref_src=twsrc%5Etfw\">April 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Another Ripple community lawyer and founder of Crypto-Law.us also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1513653053211172869\">tweeted<\/a> today to his 191,000 followers that \u201cThe SEC is now in a hurt locker\u201d following Judge Netburn\u2019s ruling.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This is not just a win for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@Ripple<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/XRPHolders?src=hash&amp;ref_src=twsrc%5Etfw\">#XRPHolders<\/a>, but for the judicial system. After the March 2021 hearing, I said we were lucky to get Judge Netburn. Some of you disagree, but I still believe it. The SEC is now officially in a hurt locker. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MuSC8ORrd2\">https:\/\/t.co\/MuSC8ORrd2<\/a><\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1513653053211172869?ref_src=twsrc%5Etfw\">April 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Despite this seemingly important ruling, the case isn\u2019t winding up yet and the SEC now has two weeks to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eal the decision.<\/p>\n<p>Much of the crypto industry is fixated on the proceedings of this case as its outcome could spell out the future of SEC filings against crypto companies for sales of unregistered securities. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Greenpeace, Ripple co-founder campaigning to change Bitcoin code<\/em><\/strong><\/p>\n<p>A Ripple victory could see the SEC pullback from its aggressive litigations against the crypto industry. However, if the SEC wins, the floodgates could open and lawyers familiar with crypto will have a cottage industry ready-made for them.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ripple-scores-a-very-big-win-in-sec-case\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ripple scores &#8216;a very big win&#8217; in SEC case &#8220; Ripple Labs has struck a blow against the Securities and Exchange Commission&#8217;s (SEC) case after the presiding judge made a ruling that one Ripple community lawyer calls \u201ca very big win for Ripple.\u201d The SEC filed suit in 2020 against Ripple and executives Brad&#8230;<\/p>\n","protected":false},"author":1,"featured_media":430833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZWI2YTRkZWMtYWI3MC00NDA0LWJhZTYtODZiMTVjMmRkNTQyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75034,74898,70934],"class_list":["post-430832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-ripple","tag-sec","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=430832"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/430833"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=430832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=430832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=430832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}