• The U.S. Securities and Exchange Commission’s (SEC) ongoing lawsuit against Ripple has taken a blow after a federal judge ruled that the public has the right to see documents relating to the much-discussed “Hinman emails”.
• These documents contain internal SEC deliberations about a speech delivered by former SEC official William Hinman in 2018 when he stated in his official capacity that he believed both Bitcoin (BTC) and Ethereum (ETH) are not securities.
• Crypto attorney James K. Filan says previous court orders indicate the Hinman documents will be made public by June 6th.
SEC Lawsuit Against Ripple Suffers Setback
The U.S. Securities and Exchange Commission’s (SEC) ongoing lawsuit against Ripple has suffered a setback after a federal judge ruled that relevant documents must be unsealed for public view, despite efforts by the SEC to keep them under wraps.
Court Ruling Will Make Documents Accessible
U.S. District Judge Analisa Torres ordered that documents relating to the much-discussed “Hinman emails” be unsealed for public access, prompting the SEC to file a motion in December to keep some of these contents sealed from public view – which was ultimately denied this week by Torres citing various case precedents.
Documents Contain Internal SEC Deliberations
The documents are highly relevant as they contain internal SEC deliberations about a speech given by former SEC official William Hinman in 2018 when he stated in his official capacity that he believed both Bitcoin (BTC) and Ethereum (ETH) were not considered securities according to existing regulations at the time – potentially revealing why certain crypto assets have been declared as securities while others have not been subject to such classification by regulators yet..
Lawsuit Allege XRP Sales Violated Security Laws
The SEC launched its lawsuit against Ripple back in December 2020, alleging that Ripple had been selling XRP tokens as unregistered securities for years, violating security laws within the United States and other jurisdictions where it conducted business with its digital asset offering.
Documents Expected To Be Public By June 6th
Crypto attorney James K Filan says previous court orders indicate the Hinman documents will be made publicly available no later than June 6th, giving investors more insight into how regulatory decisions regarding cryptocurrencies are made on an institutional level within government agencies like the U.S Securities and Exchange Commission itself .