Hinman Documents Spells Retribution for XRP in Ripple vs SEC Lawsuit

• The release of the Hinman documents expectedly changes the Ripple lawsuit.
• XRP holders everywhere are expecting the Hinman documents to protect their rights.
• The lawyer representing them explains how the Hinman documents will do exactly that.

Amid the Ripple lawsuit, expert lawyer John E. Deaton, the lawyer representing over 75,000 XRP holders, shares his insight online. He believes that Ripple and its top executives have a strong defense that could potentially weaken the SEC’s case.

As we enter the phase leading towards the end of the XRP vs SEC case, the crypto community remains optimistic. Specifically, the XRP community remains positive as they await Judge Analisa Torres’ final judgement.

To fuel this optimism, Deaton recently emphasizes the significance of the Hinman Documents, which were recently made public. He argues that these documents create challenges for the SEC in proving its case against Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen. 

In particular, going back to December 2020, the SEC sued Larsen and Garlinghouse. On this, the SEC alleged that both top XRP representatives sold XRP as an unregistered security and engaged in reckless XRP distribution.

During an interview with Thinking Crypto’s Tony Edward, Deaton explains that the release of the Hinman documents helps Ripple. To highlight, the documents have made it difficult for the SEC to prove that the accused executives acted recklessly in distributing XRP.

In fact, Deaton points out that the SEC indirectly expects Garlinghouse and Larsen to have known that XRP should be classified as a security, despite the lack of clarity from the SEC prior to filing the lawsuit. 

In addition, he also questions how the SEC plans to prove its case when a senior SEC official had expressed concerns about potential confusion resulting from the Hinman speech, which was delivered in 2018.

Moreover, Deaton highlights the potential significance of the Hinman documents in Ripple’s argument for fair notice. If the judge allows Ripple to assert its right to fair notice, the Hinman documents could become a crucial tool in their defense.

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• Source: https://cryptonewsland.com/hinman-documents-spells-retribution-for-xrp-in-ripple-vs-sec-lawsuit/