{"id":12686,"date":"2022-06-11T16:43:32","date_gmt":"2022-06-11T16:43:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/big-error-by-sec-in-ripple-labs-court-case-a-potentially-expensive-one\/"},"modified":"2022-06-11T16:43:32","modified_gmt":"2022-06-11T16:43:32","slug":"big-error-by-sec-in-ripple-labs-court-case-a-potentially-expensive-one","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/big-error-by-sec-in-ripple-labs-court-case-a-potentially-expensive-one\/","title":{"rendered":"Big Error by SEC in Ripple Labs Court Case A Potentially Expensive One"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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According to crypto legal expert Jeremy Hogan, who has been reporting on Ripple Labs court case with the U.S. Securities and Exchange Commission (SEC) from day 1, the regulator has made some significant errors.<\/p>\n

It is all to do about documents related to former SEC Director Wiliam Henman\u2019s famous speech<\/a> back in 2018 where he stated that Ethereum<\/a> was not a security.<\/p>\n

Although Judge Magistrate Sarah Netburn has ordered the SEC to produce the internal emails surrounding the Hinman speech<\/a>, the regulator has been battling the order<\/a> since with a hearing on Wednesday centered on the SEC\u2019s latest objections.<\/p>\n

During all this time, Hogan tells his 147k+ subscribers of his \u2018Legal Briefs\u2019 YouTube channel, the SEC has been making one big mistake, which was to use different strategies in its fight to have the Hinman emails denied. He said:<\/p>\n

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\u201cBut there was a big mistake made by the SEC in this hearing\u2026 Remember last year we talked about a theory of a case and why it\u2019s so important to stick with your theory in litigation. And then we talked about how it was a mistake for the SEC to change its argument on what Hinman\u2019s speech was. If it was going to make the gambit that it was Hinman\u2019s personal opinion, you have to stick with that, and here\u2019s why:<\/p>\n

Now we know Judge Netburn has already ruled that, at least for discovery purposes, Hinman\u2019s speech was his personal opinion. So the SEC can now argue it\u2019s not relevant to anything, and that\u2019s fine, but we know that now hurts the SEC in those discovery motions, so there was a trade-off there. But the SEC attorney was trying really hard today in arguing various positions in order to try to win this motion, which was probably not really possible to even win\u2026<\/p>\n

The judge asked, \u2018Is the SEC taking the position now that the speech reflected the Division of Corporate Finance\u2019s position?\u2019 And the SEC attorney said \u2018Yes.\u2019 Now she tried to equivocate a little bit after that, but the first and the direct answer was \u2018Yes.\u2019\u201d<\/p>\n<\/blockquote>\n

In addition, the SEC\u2019s attorney stated that the purpose of the speech was to provide market guidance on how the Commission would be treating digital assets going forward.<\/p>\n

Hogan explains that the beforementioned remarks \u00a0could bite the SEC in the proverbial \u2018ass\u2019 as it \u201cputs the Hinman speech back into play as market guidance and puts it back into relevance.\u201d<\/p>\n

Ripple Labs, its CEO Brad Garlinghouse<\/a> and co-founder Chris Larsen were taken to court by the SEC in December last year over the sale of XRP<\/a>, which the SEC alleges to be an unregistered security.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) According to crypto legal expert Jeremy Hogan, who has been reporting on Ripple Labs court case with the U.S. Securities and Exchange Commission (SEC) from day 1, the regulator has made some significant errors. It is all to do about documents related to former SEC Director […]<\/p>\n","protected":false},"author":5,"featured_media":12687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12686"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12686"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12687"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}