Ripple and the SEC lawsuit are pending the decision of the US court on whether XRP is a security. Meanwhile, new SEC emails that have surfaced are strengthening the blockchain company’s hand.
SEC employee emails show Ripple passed the test successfully
The test is a legal framework used by the SEC to determine whether a particular financial instrument is a security. Known as the Howey Test, this practice is key in the Ripple-SEC case.
“There are reasonable grounds to conclude that XRP does not meet all the elements of the Howey Test and therefore is not a security for purposes of federal securities law,” the SEC emails read. However, despite this, the SEC continues its pressure against Ripple executives.
As we quoted as Kriptokoin.com, Ripple gained the upper hand with the US court’s decision not to seal the Hinmann documents within the week. XRP price reacted with positive news, gaining over 5%.
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