Ripple wint in de rechtbank nadat de rechter het verzoek van SEC om documenten te verzegelen afwijst

• De Amerikaanse districtsrechter Analisa Torres maakte duidelijk dat de Hinman-spraakdocumenten openbaar zullen worden gemaakt in de Ripple vs. SEC-zaak.
• De Hinman-spraakdocumenten worden door Ripple en CEO Brad Garlinghouse als een essentieel onderdeel van de gerechtelijke procedure beschouwd. 
• The motion from the SEC to seal the documents as it believes that they have “no relevance” in the case has been dismissed.
• Garlinghouse noemde dit evenement een overwinning voor transparantie en verklaarde dat de documenten binnenkort openbaar zullen worden gemaakt.

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The battle between Ripple and the United States Securities and Exchange Commission (SEC) has been going on for a number of years, and one of the earlier blockchain projects has full faith that it is going to win the case, according to the firm’s executives. Interestingly, a win was handed over to the company in court after United States District Judge Analisa Torres made it clear on May 16 that the documents that the SEC wants sealed will be made public, but with some conditions. 

The documents related to the former Securities and Exchange Commission corporation finance division director, William Hinman, have been allowed to be made public after Judge Torres declined the SEC’s motion, a move that is seen as a win for Ripple and the crypto industry. In a July 2018 speech, the former director vermeld that Ether (ETH), the world’s second-largest crypto coin and the native token of the Ethereum blockchain, is not a security. 

In December 2022, the United States regulator filed a motion to seal the internal emails, text messages, and expert reports that followed the speech from Hinman, a move that was seen as an attempt to hide the truth by the crypto community. The agency noted that its mission outweighs the “public’s right” to have access to documents that have “no relevance” to the court’s judgment. 

Rechter Torres niet mee eens with the SEC and stated that the Hinman documents might prove to be substantial in the case with Ripple while adding that they are “judicial documents” and subject to a strong presumption of public access. She further stated that the documents “would reasonably have the tendency to influence [the Court’s] ruling on a motion.” 

The CEO of Ripple, Brad Garlinghouse, expressed his appreciation of the judgment given by Judge Torres, calling it a win for “transparency,” while adding that unredacted Hinman emails will be publicly available soon.

Another win for transparency! Unredacted Hinman emails to be publicly available soon – stay tuned as the lawyers work through the mechanics to make that happen. https://t.co/o6puPypRHd https://t.co/qmaLVeQaP8

— Brad Garlinghouse (@bgarlinghouse) 16 mei 2023

The court document reads that “the vast majority of the SEC’s expert reports and investor declarants’ statements—including all material relevant to the Court’s decision on the motions for summary judgment—will be part of the public record,” while noting:

“The Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision, or policy.”

De rechtbank oordeelde wel dat de Hinman-spraakdocumenten openbaar zouden worden gemaakt, maar stemde in met de andere eisen van de SEC, waaronder het redigeren van namen en identiteitsinformatie van SEC-experts en XRP-investeerders en het verwijderen van persoonlijke en financiële informatie van de beklaagden. dat wil zeggen, rimpel.

On the other hand, the judge also denied certain motions asking for the sealing of certain documents from Ripple, including references linking the company’s revenues with sales of the XRP token and the amount of compensation offered to trading platforms, etc. The blockchain payments company considers the Hinman Speech Documents a crucial part of its battle with the SEC, which claims that the XRP token is a security and that the company violated US securities laws.

Zoals eerder gemeld door Bitnation, heeft Ripple verzamelde steun van de cryptogemeenschap, en officieel hebben 12 ontwikkelaars, bedrijven, investeerders en beurzen zich gemeld volgens Garlinghouse. 

Several of these individuals and groups have filed amicus briefs, which are legal documents filed in an appeal case to provide a court with extra relevant details. Brad claimed that the briefs, in their own ways, explained “the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way.”

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