SEC Tries to Cover Its Tracks in Ripple Case
2022.12.26 07:22
SEC Tries to Cover Its Tracks in Ripple Case
Budrigannews.com – The US Protections and Trade Commission (SEC) has mentioned to seal the scandalous Hinman Discourse archives, guaranteeing that they are not applicable to the court’s synopsis judgment choice.
On December 22, the SEC requested that various information and documents, most notably the Hinman Speech documents, be sealed in the Motion to Seal Summary Judgment Document.
The Hinman Speech documents refer to a speech delivered in June 2018 at the Yahoo Finance All Markets Summit by former SEC Corporation Finance Division Director William Hinman, in which he reportedly stated that Ether (ETH), the native token of the Ethereum blockchain, is not a security.
Ripple considers it to be an essential piece of evidence for their case against the US regulator.
The SEC stated in its most recent motion that the “public’s right” to access documents that have “no relevance” to the Court’s summary judgment decision outweighs its mission.
It also requested that the defendants’ papers be “redacted” of any references to the Hinman Speech Documents.
The crypto community has criticized the SEC’s request, with one user claiming that SEC chairman Gary Gensler has a hidden agenda:
Anyone else wonder what Gary Gensler and the SEC are hiding?
— XRPcryptowolf (@XRPcryptowolf) December 22, 2022
In addition, the document requested that information regarding the SEC’s expert witnesses, XRP (XRP) investors who submitted declarations, and internal SEC documents that reflect discussion and deliberation by SEC officials be sealed.
No surprise the SEC wants to keep the Hinman emails/docs redacted. At this point, given J. Torres’ rulings to date (including her position that the emails are likely only relevant for impeachment), I predict she probably rules to keep them redacted. Sad, but not unreasonable.
— Fred Rispoli (@freddyriz) December 22, 2022
It comes just a few weeks after Ripple Labs submitted its final argument to the SEC on December 2, suggesting that the two-year legal battle may soon be over.
After 18 months and six court orders, Ripple had confirmed on Oct. 21 that it had access to the Hinman Speech Documents; however, the SEC insisted that the documents remain confidential.
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The U.S. judge criticized the SEC’s hypocrisy for refusing to keep Hinman documents secret from the courts in the past.
