Because of wanting to save themselves, the SEC hides a secret memo!

<p>&nbsp;"Hey SEC, just admit defeat if you feel like you can't win."</p><p><br /></p><p>Pro-cryptocurrency Ripple (XRP) lawyer John Deaton has raised new questions about the secret memo which was a note from then-Securities and Exchange Commission (SEC) Counsel to Willian Hinman, the former director of the SEC's Division of Corporate Finance.</p><p><br /></p><p>The secret memo began in June 2018 when Ripple Labs' Chief Executive Officer (CEO) Brad Garlinghouse and Chief Technology Officer (CTO) David Schwartz posed questions to former SEC Chairman Jay Clayton.</p><p><br /></p><p>Following that, Deaton questioned why the document was not made public if SEC officials argued that the sale of XRP was a completely unregulated security.</p><p><br /></p><p><br /></p><p>Following on from XRP being shown to be a non-security in many ways, Deaton revealed that the discovery of Howey's memo was very important.</p><p><br /></p><p>This is because the memo may have stated that XRP is not a security and it does not meet the requirements of the Howey Test, therefore the SEC cannot at all support its statement if the memo is disclosed.</p><p><br /></p><p>Deaton also said that the XRP community will benefit when Clayton and Hinman are questioned in court after Judge Analisa Torres previously ruled that XRP sales do not meet the Howey Test.</p><p><br /></p><p>However, the SEC wanted to keep the memo under wraps because it was found to be threatening to those who have long asserted that XRP is a security when in fact it is not.</p><p><br /></p><p>As of this writing, XRP price is up 0.17% at $0.50 in the last 24 hours with a market cap of $26 billion but still recorded a 5.23% decline over the past week.</p>