Ripple

Ripple vs SEC: Emails of William Hinman Are No Longer Classified as Privileged Information

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Jun 7, 2022

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Throughout the SEC’s action against Ripple, the regulator has taken different positions against the payments giant. The material in Hinman’s emails that was previously classed as privileged is now exposed to the public. Proponents of XRP are hoping for a resolution to the litigation as well as regulatory clarity on the altcoin.

In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple and two of its executives, Chris Larsen and Brad Garlinghouse. As part of its defense, the blockchain firm has attempted to obtain full access to all relevant papers that led to the composition of a speech by a senior SEC official on crypto market regulation.

On June 18, 2018, William Hinman, former Director of the Securities and Exchange Commission’s Division of Corporation Finance, delivered a lecture known as the “Ethereum free pass.” He called Ethereum, the world’s largest altcoin, a non-security in this lecture. The SEC’s lawsuit against XRP has used the speech as evidence that it is not a security.

Proponents anticipate that the speech will lead to the dismissal of the lawsuit. On two occasions, the court has directed the SEC to hand over the records to the defendants. The regulator, on the other hand, has challenged the court’s demands to keep the speech and emails out of Ripple’s hands.

When and Where?

In a conference call scheduled for June 7, 2022, at 3:00 PM UTC, the court will discuss William Hinman’s correspondence. In Courtroom 23B of the Daniel P Moynihan Courthouse in New York City, members of the public can watch the proceedings live.

The live conference call will be held in Courtroom 23B of the Daniel P. Moynihan Courthouse, located at 500 Pearl Street in New York, New York. There is no mention of public call-in information for the time being. Magistrate Judge Netburn has yet to decide whether or not she will enable remote public access to civil hearings in her courtroom. The call will be recorded, and the transcript will be made available later. No other information has been provided. 

Jeremy Hogan, a well-known attorney in the XRP community, also had something to say about the court’s decision,  “I think the Judge read the SEC’s final brief and found it so…incredible (shall we say) that she decided to bring them in, in-person to explain the argument and create a clear record since she knows she’s being appealed on her decision.”

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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