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- 1 The Ripple vs SEC case has shifted its focus once again over the controversial Hinman speech documents
- 2 The pro-XRP lawyer recently shared a tweet in which he added about a journalist who had filed an amended motion.
Yesterday, James K. Filan— a lawyer, noted in his tweet that “Dr. Roslyn Layton— a journalist, has filed an Amended Motion to Intervene to petition the Court for access to the Hinman Speech Documents. Dr. Layton’s original request suggested that the SEC had offered the Hinman Speech Documents in support of its own summary judgment motion, when that was not the case.”
Ripple vs SEC case update
The recent tweet by Filan has turned the case between Ripple and the Securities Exchange Commission (SEC). As the tweet once again shifted the focus on the controversial Hinman speech documents over their unsealing. Filan revealed that Layton had filed an amended motion to intervene to petition the court for access to the Hinman speech.
The journalist had previously filed a request for access to the Hinman speech documents. In the request Layton argued that the SEC had offered the documents in support of its own summary judgment motion when the regulator had not done so, citing an error. She also clarified her request and argued that the documents are critical to the Ripple vs SEC case. She wants the documents to be made publicly available.
Layton argued that the Hinman documents could enlighten the views of SEC on the regulatory status of cryptocurrencies. On the other hand it could also help Ripple in its defense against the SEC’s allegations that its XRP token is a security.
In particular, the Hinman documents refer to a 2018 speech by the ex-SEC Director of Corporation Finance, William Hinman, regarding the regulatory status of cryptocurrencies.
Although, the SEC had previously refused to produce the documents. As the regulatory citing the preservation of confidentiality. Additionally, Ripple has also requested access to the speech. Ripple argued that they are relevant to the case and could be crucial to its defense.
Notably, in Hinman’s speech, he referred to Bitcoin (BTC) and Ethereum (ETH) as non-securities, a factor Ripple supporters believe could also apply to XRP. And in the meantime, pro-XRP lawyer John Deaton has argued that the documents will finally be made public.
The Ripple and SEC is not new as it is about to enter in its third year when Ripple was sued for selling unregistered securities in the form of XRP tokens. Meanwhile, Ripple has accused the SEC of acting in bad faith and causing harm to the company reputation and also affecting its investors.
This case is being watched by the cryptocurrency industry as it could have significant implications for the regulatory status of cryptocurrencies in the United States.
Last but not the least, XRP price is currently trading at $0.389988 and is down 0.19% in the last 24 hours.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
