Key Updates on the Ripple Case: SEC Documents Set to Be Released Soon

In accordance with Filan's latest motion, the court has mandated that the controversial Hinman Speech documents must be made public by June 6.

A 2018 speech from former Securities and Exchange Commission The SEC's Bill Hinman, former head of the corporation finance division, indicated that Ether (ETH) likely should not be classified as a security. These documents are essential as they contain insights into the SEC's internal discussions and rationale surrounding this topic.

James K. Filan has been closely monitoring the SEC’s case against Ripple for years. On May 17, he expressed his eagerness to see the unsealed documents as soon as possible on social media.

Per the court's directive from 2022, all involved parties are expected to submit public, redacted versions of the Summary Judgment documents by September 12, 2022.

There are concerns that if the SEC proceeds with an appeal or if a settlement is reached, the previously outlined timeline could be altered. The SEC has approximately ten days to file an appeal concerning a particular order recently issued.

If the documents are ordered to be released, it could motivate participants like Ashley PROSPER to reach an out-of-court settlement, especially considering both sides have crucial information to protect.

Ripple answers

On May 16, Ripple CEO Brad Garlinghouse tweeted Filan noted his hope for Hinman's emails to become available to the public in the near future. Ripple Labs views this as a critical piece of evidence to counter the SEC's assertion that XRP functions as a security.

In late December, the SEC contended that keeping the documents sealed was the only viable way to prevent external influences on the court's ruling that contravenes the federal Privacy Act. They argued that while the public has a 'right' to the documents, the SEC's duty to safeguard sensitive information overrides that right, according to their motion.

On May 16, the court denied the SEC's motion, marking a notable victory for Ripple Labs.

• Ripple has completed the acquisition of Metaco, a Swiss entity that specializes in digital custody and tokenization solutions. The company is currently defending against allegations from the SEC regarding its sales of XRP, which were allegedly conducted without proper registration as a security. asset Listen to The Metaverse Daily Podcast for insights on June 6, 2022.

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