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SEC Resists Surrendering Hinman Emails to Ripple

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The U.S. Securities and Exchange Commission has asked Justice of the Peace Sarah Netburn to be allowed to file a 30-page opening statement and a 10-page response letter in support of the agency’s objections to court orders requiring disclosure of drafts of Willian Hinman’s infamous speech. .

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The SEC has repeatedly refused to hand over emails related to a 2018 speech in which a former director said that Ethereum is the second largest cryptocurrency by market cap.

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Initially, the SEC tried to no avail to argue that the emails were protected by Intentional Process Privileges (DPP). In May Netburn ordered regulatory body to publish drafts of the controversial speech.

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In early April, the court denied the agency’s motion to review the Deliberate Privilege Process (DPP) ruling, another blow to the SEC’s persistent efforts to keep Hinman’s emails private.

Later, the SEC began to argue that the documents were in fact protected by attorney-client privilege because they reflected “confidential information”. As Cryptooshala reported, this argument was rejected earlier this month. The Court determined that the provision of legal advice was not the primary purpose of the communication.

The legal battle between the SEC and Ripple is expected to drag on until 2023.

Cryptooshala reports that US Congressman Brad Sherman recently claimed that XRP is a security, prompting criticism from Ripple’s General Counsel Stuart Alderothy.



Credit : u.today

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