XRP temporarily rises due to former SEC director’s email announcement | CoinDesk JAPAN | Coin Desk Japan

XRP (XRP) rose 7.4% in 24 hours on the night of the 13th Japan time, reversing the downward trend of the crypto asset market. Traders believed the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) would turn out in favor of Ripple Labs. rebounding).

The rise was driven by the release of documents related to William Hinman, director of the SEC’s corporate finance division from 2017 to 2020.

In a speech in 2018, Hinman said that Bitcoin (BTC) and Ethereum (ETH) are not securities. “There is no need to find a need to regulate Ethereum as a security,” Hinman wrote in an email.

Ripple Labs claims that Hinman’s remarks at the time meant that XRP should not be considered a security. This could have favorable results for the company.

In 2020, the SEC sued Ripple Labs for selling unregistered securities. The development of the court will affect the price of XRP.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: XRP Price Trends (CoinDesk)
｜Original: XRP Prices Jump as Hinman Speech Released in Ripple Labs Filing