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Ripple Experiences Major Win as Netburn Demands for an Explanation

Gaurav Roy by Gaurav Roy
October 24, 2021
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Judge Sarah Netburn gave Ripple another win in the ongoing case between the US Securities and Exchange Commission. Sarah Netburn will provide her decisive ruling by September 28, 2021. 

Netburn’s decision came from the company’s request to view the internal documents from the Securities and Exchange Commission. In line with this request, the SEC sent a response that requested the court to deny the motion to “compel the production of confidential details of trading by individual SEC employees”.

In line with these events, the judge decided to read through the internal documents through an on-camera examination without the Ripple legal team. 

These documents talk about the Commissions’ internal discussions about Ripple before the actual legal case.

Ripple Experiences Major Win as Netburn Demands for an Explanation

Furthermore, the company also requested the court to disclose the digital assets of the employees in the Securities and Exchange Commission. The lawyers intend to use these disclosures to prove that the comments made by former SEC Director William Hinman stated that Ethereum was a non-securities asset. 

William Hinman’s public admission provided Ripple the much-needed win by diluting SEC’s claim to the Hinman deposition. 

Thus, the question now lies whether XRP should be classified as a securities asset since Hinman claimed that Ethereum was not a securities asset. More importantly, the case relies on whether the SEC gave the company reasonable notice to classify the cryptocurrency as a securities asset. 

The transcript of the Hinman deposition showed that Hinman met with Ripple executives in 2020 to strategize ways on how XRP can be regulatorily compliant. 

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Gaurav Roy
Tags: Ripple lawsuit in the USSEC explanationSEC vs. RippleXRP fundamental analysis
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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