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Why Hinman Speech Docs Remain Key In XRP Lawsuit?

source-logo  coingape.com 26 May 2023 17:19, UTC

XRP News: The global cryptocurrency linked firms and leaders are eagerly waiting for the release of crucial Hinman speech related documents and emails. Providing another win to the defendants against U.S. Securities and Exchange Commission (SEC), the district court denied the motion to seal the crucial memos.

Also Read: Ripple CEO Expects XRP Lawsuit Verdict In Weeks After Hinman Docs Win

SEC’s Delay Tactics Over Hinman Doc

Attorney John Deaton, Amicus Curiae in the XRP lawsuit stated that SEC’s lawyers tried to poke holes in Ripple’s fair notice defense with its assertion over Hinman speech. The infamous speech given by Bill Hinman, then SEC Director of Corporation Finance mentioned that in his view, Ethereum (ETH) was not security. The speech related documents will reveal what discussion led the former Director to derive this conclusion.

The commission in the case argued that the speech was not a guidance to the market. SEC even tried to provide a Hilman signed affidavit that the declaration was just his personal opinion. This assertion was made to ditch the fair notice defense. However, District Judge Netrun ruled that the docs do not fall under the deliberative process privilege (DPP). Read More XRP News Here…

Watchdog Extended Its assertion

However, the SEC ahead went on to assert that speech documents are protected by attorney client privilege. The commission tried to gather more affidavits from its executives to strengthen its claim. Meanwhile, the court didn’t like the watchdog’s approach, it mentioned SEC lawyers lack a faithful allegiance to the law.

In the latest development, Ripple and SEC filed a joint appeal in the court to extend the release date of redacted Hinman speech docs in public view. This also includes redacted versions of Summary Judgment documents. It should be noted that the commission had a chance to appeal against the court’s decision to disclose the crucial memos.