SEC vs Ripple – Brad Garlinghouse Criticizes SEC Over Lack of Clarity, Judge Grants Request for Binance Docs


Bradley Garlinghouse, the CEO of Ripple, recently took to Twitter to express his displeasure with the lack of clarity regarding cryptos, which he claims has intensified as a result of William Hinman’s recent written declaration in court.

In his court affidavit, Hinman, the SEC’s director of the Division of Corporation Finance, reversed Ethereum’s non-security status granted in 2018. According to Garlinghouse, this decision has set the crypto market on a road that is far from clear.

Regarding ETHs status, In court recently, he said that the regulator “had not taken any stance or expressed any perspective” 

Hinman’s first deposition was taken in conjunction with the SEC’s complaint against Ripple, which was filed in December 2020.

Also Read : Ripple Lawyers File Request To Seek XRP Related Documents From Binance!

Judge Grants Request For Binance Documents

Ripple wins another modest victory in the lengthy story of Ripple vs SEC. Brad Garlinghouse’s Motion to Obtain International Discovery, i.e. Binance Documents from the Cayman Islands, was granted by the court.

Garlinghouse’s counsel recently filed a Letter of Request with the court, seeking access to Cayman Island’s Binance records under the Hague Convention on the taking of evidence abroad in civil or commercial cases, which was signed on March 18, 1970.

Binance documentation as proof of the SEC’s claims under Section 5 could lead to the defendants winning their motion to dismiss. The defense has stated in the letter that these papers can be utilized to support their petition to dismissal because the majority of sales and offerings were made outside of the United States.

As for the native token XRP. It is trading at  $0.706, down by 1% in the last 24 hours. The price action is mostly following suit of the entire crypto market.

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Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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