Eleanor Terrett, a Fox Business journalist, recently questioned the ongoing lawsuit between the SEC and Ripple.
Ripple Labs and US Securities and Exchange Commission (SEC) lawsuit started in DEC 2020. According to SEC, Ripple is a security, Where Ripple team says why SEC is specifically targeting Ripple, ignoring Ethereum created by an ICO and all other coins.
According to Terrett, the SEC legal team reviewed Ripple on June 13, 2018, the day before Hinman’s speech on Ethereum’s security status. It came with no recommendations to hold Ripple and its executives accountable for security.
This fact made her think about what could have led to a change in 2 years.
According to the Fox Business journalist, John Deaton, the founder of Crypto-Law.us, obtained the details. She vowed that the case would be examined later with another main Fox Business Journalist, Charles Gasparino.
Eleanor Terrett tweeted,
“On the latest ruling in the SEC vs. Ripple case: JohnEDeaton1 gave me his biggest takeaways and here’s what I find the most interesting: On June 13, 2018, the day before the Hinman speech, the SEC legal team reviewed whether XRP was security in a legal memo and did not.
Recommend bringing any enforcement action against Ripple or its executives. This shows SEC lawyers did NOT think it was unequivocal that XRP was a security. So what changed in two years?”
recommend bringing any enforcement action against Ripple or its executives. This shows @SECGov lawyers did NOT think it was unequivocal that XRP was a security. So what changed in two years? 🤔Lots to get into here and @CGasparino will discuss at 3:35PM on @FoxBusiness.
— Eleanor Terrett (@EleanorTerrett) January 19, 2022
At the end of December 2020, the SEC, led by Jay Clayton, filed a lawsuit against Ripple and two of its top executives, Chris Larsen and Brad Garlinghouse.
The regulator said that Ripple had sold XRP to institutional investors for seven years as an unregistered security. The SEC also said the firm made more than $1.3 billion from unauthorized initial coin offering of the digital token.