Big win for Ripple as new document suggests XRP is not a security

A 49-page document from Perkins Coie, an international law firm that provides legal advice on the classifications of cryptocurrencies disagrees with SECs. 
Williams Hinman, former Director of SEC’s Division of Corporation Finance previously stated that XRP is not a security.

It can be recalled that the US Securities and Exchange Commission (SEC) sued Ripple Labs in 2020 for issuing unregistered Securities. About a month ago, a couple of key memos made available to the public disclosed that the legal advice received by Ripple in 2012 was that regulators would not consider XRP as a security. 
Ripple General Counsel Stuart Alderoty stated that: 
We are pleased with the Court’s order to release these documents to the public. The documents show a ‘compelling’ legal analysis that Ripple received in 2012 that XRP is not a security.
According to recent reports, Williams Hinman, former Director of SEC’s Division of Corporation Finance received a 49-page document from Perkins Coi

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