SEC requested to prohibit disclosure of internal documents in the case against Ripple

For Angel DiMatteo @shadowargel

The documents include statements by Willian Hinman, a former official of the SEQ. The regulator maintains that if such information comes to light, some processes and the safety of certain team members could be compromised.

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  • sec you want the court not to consider or disclose internal documents in your case against Ripple
  • It considers that the documents contain confidential information of the regulator
  • Ripple maintains that Hinman’s statements would clarify the handling of the sec

In a new episode of the court case between the US Securities and Exchange Commission (SEC) against Ripple Labsnow the regulator tries to dismiss and seal certain documents with statements that would call into question their allegations.

According to information published by various media, the sec would be trying to seal the documents that contain the statements of the former regulator official, William Hinman, who in a series of internal communications declared on behalf of the body that both Bitcoin What ethereum they did not qualify as securities.

Trying to leave out Hinman’s testimonials

Information made it public the lawyer of Ripple, James K. Filan, where the following allegations are read by the legal team of the SEQ:

The clear lack of relevance of these documents to motions for summary judgment must be weighed against the impact that the publication of the documents would have on the SEC’s ongoing deliberations on a wide variety of issues if these documents were made public. Hinman’s speech documents reflect internal discussions and deliberations by numerous SEC officials.

Regardless of whether these documents reflect agency deliberations that should be protected by deliberative process privilege, they undoubtedly reflect confidential deliberations. SEC officials repeatedly express their views and positions on issues of programmatic importance to the SEC. The ability of agency officials to discuss and collaborate candidly would be hampered by the public release of these documents.

Keep in mind that the access to these documents came after the district judge, Analisa Torres, ordered the publication of the files related to Hinman, which the regulator tried to keep out of the case.

In this sense, the team Ripple indicated that such records were highly relevant, and would clarify why the sec it has opted in favor of some projects and against others when deciding whether they are values ​​or not.

sec appeals the motions of Ripple

In addition to taking the Hinman-related documents out of circulation, the SEC would also be making other requests to black out information submitted by Ripple, which could be tipping the scales in its favor.

For example, the SEC would have proposed to the court to prevent Ripple Labs employees from disclosing personal and financial information in the framework of the case, also extending this request to one that involves certain third parties.

In light of how advanced the case is and the proximity of a possible final verdict, other reports also suggest that the SEC is looking for a possible conciliation with Ripple Labs to settle the case behind closed doors. Analysts maintain that it would be a serious reputational blow for the regulator to lose this legal dispute, especially due to the attitude with which they have acted within the crypto ecosystem and how incisive they have been with certain projects within the space.

Let us bear in mind that when the sec publicly sued Ripple, the CEO of the company, Brad Garlinghouse, claimed that they were willing to put up a fight because they considered that they had not committed any type of crime. He also assured that the dispute will be transcendental for the digital currency ecosystem, since beyond the litigation, the positive and/or negative consequences would be extrapolated to the rest of the projects. blockchain with development teams behind.


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Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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