Ripple Vs SEC: The global crypto industry moves closer to gaining regulatory clarity around the characterization of digital assets as a United States District Court produced a verdict on infamous Hinman documents. Judge Analisa Torres’s rejection of the U.S. Securities and Exchange Commission (SEC) motion is tagged as a win for Ripple Labs and other defendants.
Ripple Closer To Secure A Win?
Hinman documents are the memos and emails linked to the infamous speech of the former SEC Director of Corporation Finance, Bill Hinman, in which he stated that Ethereum (ETH) in his view is not a security. However, Judge Sarah Netburn earlier ordered that these controversial documents should be turned over to Ripple and the defendants in the XRP lawsuit as a part of the discovery process.
Coingape reported that Judge Torres denied the SEC’s Motion to Seal the Hinman documents. However, it is important to see what the commission will do next from here.
Eleanor Terrett, a Fox Business Journalist reported that her sources revealed that both parties will be sitting down and discussing the logistics of how and when the documents will be released. However, the US SEC has the option to file an interlocutory appeal to the decision, she added. Read More XRP Lawsuit News Here…
She further added that if appealed it would be a tough decision for the judge to grant such a motion as this is a discovery issue. Meanwhile, it is extremely unlikely for the judge to grant the appeal.
Attorney Jeremy Hogan highlighted that the US SEC now has 10 days to file a reconsideration. However, Ripple and the defendants will be in talks with the commission if they want to do so. If not the controversial Hinman Docs could be released anytime soon.
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