The US Securities and Exchange Commission (SEC) has asked to seal the infamous Hinman Speech documents, saying they are not relevant to the court’s decision on summary judgment..
The motion to seal the summary judgment document was filed by the SEC on December 22.requesting the sealing of various information and documents, among which the Hinman Speech documents stand out.
The Hinman Speech documents refer to a speech delivered by the former head of the SEC’s Division of Corporate Finance, William Hinman.at the Yahoo Finance All Markets Summit in June 2018, where he allegedly stated that Ether (ETH), the native token of the Ethereum blockchain, is not a security.
Ripple believes it is vital evidence to help them with their case against the US regulator..
In his last motion, the SEC claims its mission trumps the “public’s right” to access documents that have “no relevance” to the court’s decision on summary judgment.
He also requested that any reference to the Hinman speech documents be “stripped” from the defendants’ documents..
The SEC petition has sparked criticism from the crypto community; One user suggested that SEC Chairman Gary Gensler has ulterior motives:
Anyone else wonder what Gary Gensler and the SEC are hiding?
—XRPcryptowolf (@XRPcryptowolf) December 22, 2022
Anyone else wondering what Gary Gensler and the SEC are hiding?
The document also called for sealing information related to SEC expert witnesses and XRP (XRP) investors who filed statements, as well as internal SEC documents. reflecting the discussion and deliberation of SEC officials.
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
No wonder the SEC wants to keep Hinman’s emails/documents redacted. At this point, given J. Torres’s decisions to date (including his position that the emails are probably only relevant to impeachment), I predict that he will likely rule to keep them redacted. It’s sad, but not unreasonable.
This comes just weeks after Ripple Labs filed its closing argument against the SEC on December 2, meaning the two-year legal battle could be coming to an end soon..
Ripple had confirmed on Oct. 21 that it had access to the Hinman speech documents after 18 months and six court orders, though the documents remained confidential at the SEC’s insistence..
Courts had previously denied the SEC to keep Hinman’s documents secret.and the American judge denounced the hypocrisy of the SEC for doing so.
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