• The SEC’s ongoing lawsuit against Ripple has taken a blow after a federal judge ruled that the public has the right to see documents which have been one of the most contentious issues of the lawsuit.
• U.S. District Judge Analisa Torres ordered that documents relating to the much-discussed “Hinman emails” be unsealed for public access.
• 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 as a federal judge ruled that key evidence must be unsealed for public viewing. The documents in question relate to former SEC official William Hinman’s 2018 speech, where he stated his belief that Bitcoin (BTC) and Ethereum (ETH) are not securities.
Judge Orders Documents Unsealed
U.S. District Judge Analisa Torres ordered that documents relating to the much-discussed “Hinman emails” be unsealed for public access, as they may reveal why the SEC appears to have chosen certain crypto assets as securities while not declaring others as such. The SEC had repeatedly tried to keep these documents out of court but was denied this request by Judge Torres, who cited various case precedents in her ruling against them.
Public Access Expected By June 6th
Crypto attorney James K Filan believes previous court orders indicate that these Hinman documents will be made publicly available by June 6th 2021, providing potentially revealing insight into how decisions were made regarding certain crypto assets being declared securities or not by the SEC .
Background To The Lawsuit
In December 2020, The SEC launched its lawsuit against Ripple alleging they had sold XRP as an unregistered security for years prior to this date of filing.. Since then, both parties have engaged in numerous legal proceedings involving motions and counter-motions with each other which bring us up until present day with this latest ruling from Judge Torres ordering key evidence related to this case be unsealed from its current state of privacy and provided publicly for all to view at some point within the next month or so..
Implications Of This Ruling
It remains unclear what implications this ruling will have on any potential outcome of this case between Ripple and the SEC but it is likely we’ll all get a better understanding once these previously sealed documents are released within our upcoming timeframe mentioned above – pending any further legal action taken should either party wish to do so before then..