XRP vs. SEC Case: SEC Was Denied Another Motion on Documents
Things continue to get heated up in the battle between Ripple and the Securities and Exchange Commission. The SEC has filed several motions to delay the case, and this time, they tried to do it again with the William Hinman documents that are pivotal to this case.
William Hinman’s infamous statement included him saying that Ethereum is not a security, which Ripple holds on to as evidence against the complaint filed against them by the SEC. William Hinman was the former director of the SEC, which is why his statement holds weight in this case.
Since this speech is strong evidence to counter the allegations by the SEC against XRP, the SEC has filed a motion under the attorney-client privilege to conceal the specifics of the documents. If it is granted, then the Ripple team can’t fully get access to the said document.
The Ripple lawyers have expressed their opposition to this motion requested by the SEC, as they view it as another tactic coming from the SEC to prolong the case, even with the concrete dates already laid out. If the dates of the briefings are to be followed, then this case will likely end before this year ends.
Ripple has been winning small victories when this case started, as well as Judge Sarah Netburn’s denial of the SEC motion for the court to reconsider rulings in terms of speech after the January 13th decision.
This motion requested by the SEC has been the 6th one already when the case started. Matthew Solomon, Ripple’s lawyer, requested permission to state a brief reply supporting the assertion of the attorney-client privilege on the speech documents, which should be submitted by May 20th of this year.
There are still some more to come in terms of this case, so you might want to be updated, especially if you own an XRP coin.