Secret

<div class="coingape"> 
 <p>Also Read: <strong>Whale Transfers 40 Mln <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> From Binance To Unknown Wallet Amidst On-Chain Activity Boost</strong></p>  
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 </div> 
 <h2 id="xrp-secret-howey-memo">XRP Secret Howey Memo</h2> 
 <p>The secret memo dates back to June 2018, when Ripple Labs CEO Brad Garlinghouse and CTO David Schwartz raised questions to Hinman former SEC Chair Jay Clayton. Deaton asked why was it that the document was not out in public if the SEC officials have argued that the sale of XRP was unregulated securities.</p> 
 <blockquote> 
  <p>“How come the Howey memo isn’t an exhibit? How come Jay Clayton and William Hinman didn’t say <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> sale was clearly a security? Because at best the memo said <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> was given away by <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> for a non-investment purpose.”</p> 
 </blockquote>  
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 <p>Deaton explained that the fact that <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> can be shown as not a security in many ways makes the Howey memo an important finding. The attorney argued that the memo would likely have suggested for the SEC that it was inconclusive but it may very well have suggested for <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> that <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> was not a security and that it did not meet the Howey test conditions.</p>  
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 </div> 
 <h2 id="judge-analisa-torres-agreed-with-howey-argument">Judge Analisa Torres Agreed With Howey Argument</h2> 
 <p>Deaton recalled that the judge Analisa Torres too had accepted that the XRP token sales did not meet the Howey Test. In this context, he said the XRP community would benefit of Clayton and Hinman are put to question before the Court. Also, the US SEC would like to conceal the memo as it potentially hurts them, he explained. The attorney asked why the agency would not reveal the document if it did not say XRP is a security.</p> 
 <p>Also Read: <strong>VISA Expands Its USDC Stablecoin Settlement to the Solana Blockchain</strong></p> 
</div>  
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/xrp-lawyer-us-sec-hiding-secret-howey-memo-to-protect-itself-tbt61646.html">https://thebittimes.com/xrp-lawyer-us-sec-hiding-secret-howey-memo-to-protect-itself-tbt61646.html</a></p>

XRP Lawyer: US SEC Hiding Secret Howey Memo To Protect Itself

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