{"id":65965,"date":"2022-08-17T17:51:04","date_gmt":"2022-08-17T14:51:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65965"},"modified":"2025-09-06T22:53:01","modified_gmt":"2025-09-06T19:53:01","slug":"sec-declines-to-disclose-internal-documents-in-ripple-case","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-declines-to-disclose-internal-documents-in-ripple-case\/","title":{"rendered":"SEC declines to disclose internal documents in Ripple case"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) filed an objection to the court&#8217;s demand to disclose internal documents in the Ripple case.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&#038;ref_src=twsrc%5Etfw\">#XRPCommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&#038;ref_src=twsrc%5Etfw\">#SECGov<\/a> v. <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&#038;ref_src=twsrc%5Etfw\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&#038;ref_src=twsrc%5Etfw\">#XRP<\/a> The SEC has filed its Reply Brief in Further Support of its Objection to Magistrate Judge Netburn&#8217;s Orders Compelling the SEC to produce the Hinman Speech Materials.<a href=\"https:\/\/t.co\/CgwzCzmIkF\">https:\/\/t.co\/CgwzCzmIkF<\/a><\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea 109k (beware of imposters) (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1559681587536695299?ref_src=twsrc%5Etfw\">August 16, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This concerns the text of former SEC Director of the Division of Corporate Finance William Hinman&#8217;s 2018 speech. He stated at the time that, for various reasons, Bitcoin and Ethereum are not securities.<\/p>\n<p>The SEC argued that the former official&#8217;s remarks reflected his personal views. In February the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-agrees-to-disclose-xrp-status-documents\">filed a motion<\/a>, according to which Hinman expressed the position of the Division of Corporate Finance. In this way the agency sought to extend the reach of the <span data-descr=\"deliberative process privilege\" class=\"old_tooltip\">DPP<\/span> to the draft remarks.<\/p>\n<p>On July 12, 2022, Judge Sarah Netburn <a href=\"https:\/\/u1f987.com\/en\/news\/court-rejects-sec-bid-to-seal-documents-in-ripple-case\">described the regulator&#8217;s position as hypocritical<\/a> and rejected the motion to withhold disclosure of internal documents.<\/p>\n<p>On August 16, the Commission accused Ripple&#8217;s lawyers of using a &#8220;fundamentally inconsistent argument&#8221;. In its response to the court&#8217;s ruling, the SEC stated that Hinman&#8217;s speech is not related to the case.<\/p>\n<p>According to the document, the speech drafts are internal documents not subject to disclosure. The regulator also stressed that information relating to the deliberative process falls under the DPP.<\/p>\n<p>The speech by the former SEC employee was again described as &#8220;preliminary&#8221; and &#8220;deliberative&#8221;, because it &#8220;reflects the author&#8217;s personal views&#8221;, not the agency&#8217;s policy. As in the previous motion, the regulator cited attorney-client privilege.<\/p>\n<p>Earlier, Fox Business aired a <a href=\"https:\/\/u1f987.com\/en\/news\/media-point-to-potential-conflicts-of-interest-in-sec-case-against-ripple\">major investigation<\/a> into the SEC&#8217;s case against Ripple. Journalists concluded that the officials behind the filing could be affiliated with Ethereum.<\/p>\n<p>Empower Oversight, a nonprofit organization, pointed to a <a href=\"https:\/\/u1f987.com\/en\/news\/rights-groups-suspect-former-sec-officials-of-biased-assessment-of-cryptocurrencies\">potential conflict of interest<\/a> in the actions of former high-ranking SEC officials.<\/p>\n<p>In May, SEC representatives <a href=\"https:\/\/u1f987.com\/en\/news\/sec-could-not-identify-former-employee-in-ripple-video\">could not confirm or deny<\/a> the authenticity of a video of Hinman&#8217;s remarks at the Fintech Week 2018 conference. He said at the time that Ethereum deals were not &#8220;securities transactions&#8221;.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) filed an objection to the court&#8217;s demand to disclose internal documents in the Ripple case.<\/p>\n","protected":false},"author":1,"featured_media":65966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,112,128],"class_list":["post-65965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=65965"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65965\/revisions"}],"predecessor-version":[{"id":65967,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65965\/revisions\/65967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65966"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}