**Undisclosed SEC Memo Questions SEC’s Stance on XRP**
**Key Points:**
1. Bill Morgan shared a memo that discusses the SEC’s internal views on XRP’s security status.
2. John Deaton clarified that the memo did not conclude that XRP is not a security, but it did not have any enforcement recommendations either.
3. The memo suggests that the SEC did not initially view XRP as a security.
4. The memo’s existence raises questions about the accusations made against Ripple leaders, Brad Garlinghouse and Chris Larsen, of selling XRP as an unregistered security.
5. The memo complicates the ongoing legal battle between Ripple and the SEC, adding to the debate about XRP’s classification and Ripple’s alleged misconduct.
**Closing Paragraph (Hot Take):** The undisclosed SEC memo has the potential to significantly impact Ripple’s lawsuit against the SEC. If it is revealed that the SEC did not initially view XRP as a security, it weakens the case against Ripple’s leaders and raises questions about the SEC’s current stance. This memo adds another layer of complexity to the ongoing legal battle and further fuels the debate about the classification of XRP. The outcome of this case could have significant implications for the crypto industry as a whole.
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