{"id":69413,"date":"2022-11-01T18:16:25","date_gmt":"2022-11-01T16:16:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69413"},"modified":"2025-09-07T19:55:17","modified_gmt":"2025-09-07T16:55:17","slug":"court-allows-sec-to-edit-documents-related-to-hinmans-ethereum-speech","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/court-allows-sec-to-edit-documents-related-to-hinmans-ethereum-speech\/","title":{"rendered":"Court allows SEC to edit documents related to Hinman&#8217;s Ethereum speech"},"content":{"rendered":"<p>Judge Sarah Netburn in the <span data-descr=\"Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> v. Ripple case granted the regulator&#8217;s motion to amend two documents related to <a href=\"https:\/\/www.sec.gov\/news\/speech\/speech-hinman-061418\">speech<\/a> by the former head of the agency&#8217;s Corporate Finance Department, William Hinman, in 2018 on Ethereum&#8217;s status.<\/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> Magistrate Judge Netburn has granted the SEC\u2019s request to make redactions to two drafts of Hinman\u2019s June 2018 speech that discuss pending determinations before the SEC. <a href=\"https:\/\/t.co\/qAN6sPw7Rw\">pic.twitter.com\/qAN6sPw7Rw<\/a><\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea 123k (beware of imposters) (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1587189478703210497?ref_src=twsrc%5Etfw\">October 31, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time, the former official pointed to the sufficient decentralization of the second-largest cryptocurrency by market capitalization. For this reason, it cannot be construed as a security, he explained.<\/p>\n<p>The documents concern SEC staff discussions about aligning Hinman\u2019s speech with the regulator&#8217;s position in this area.<\/p>\n<p>Earlier, Commission officials said that the former official&#8217;s remarks reflected his personal views. In February the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-agrees-to-disclose-xrp-status-documents\">filed a motion with the court<\/a>, according to which Hinman expressed the Corporate Finance Department&#8217;s position. In this way the regulator sought to extend the <span data-descr=\"deliberative process privilege\" class=\"old_tooltip\">DPP<\/span> to the drafts of the speech.<\/p>\n<p>On July 12, Judge Netburn <a href=\"https:\/\/u1f987.com\/en\/news\/court-rejects-sec-bid-to-seal-documents-in-ripple-case\">called the regulator&#8217;s position hypocritical<\/a> and rejected the motion to disclose internal documents.<\/p>\n<p>On August 16, the Commission accused Ripple&#8217;s lawyers of using a &#8220;fundamentally inconsistent argument&#8221;. In <a href=\"https:\/\/u1f987.com\/en\/news\/sec-declines-to-disclose-internal-documents-in-ripple-case\">its objection to the court&#8217;s decision<\/a>, the SEC noted that Hinman\u2019s speech is not related to the case, and cited the attorney-client privilege.<\/p>\n<p>In late September, Judge Analisa Torres <a href=\"https:\/\/u1f987.com\/en\/news\/court-orders-sec-to-disclose-internal-documents-in-ripple-case-2\">ordered the agency to disclose the documents<\/a>. Then attorney James Filan suggested that the regulator could delay handing over the internal papers &#8220;for another two to three months&#8221;.<\/p>\n<p>In October, Ripple <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-obtains-internal-sec-documents-on-hinman-speech\">received<\/a> internal documents from the SEC.<\/p>\n<p>On October 31, Ripple also gained backing from Coinbase as an <span data-descr=\"a person who assists the court by providing information relevant to the case, who is not a party or participant\" class=\"old_tooltip\">amicus curiae<\/span> \u2014 \u201cfriend of the court\u201d in this 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> <a href=\"https:\/\/twitter.com\/hashtag\/Coinbase?src=hash&#038;ref_src=twsrc%5Etfw\">#Coinbase<\/a> has filed a request to file an Amicus Brief in Support of Ripple&#8217;s Fair Notice Defense.<a href=\"https:\/\/t.co\/0pbE2w8X3e\">https:\/\/t.co\/0pbE2w8X3e<\/a><\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea 123k (beware of imposters) (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1587207108692418564?ref_src=twsrc%5Etfw\">October 31, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The document states that the SEC suit led to $15 billion in losses for the exchange&#8217;s clients due to the forced removal of the XRP token from Coinbase&#8217;s listing.<\/p>\n<p>Earlier this week, <a href=\"https:\/\/u1f987.com\/en\/news\/blockchain-association-backs-ripple-in-lawsuit-against-the-sec\">Blockchain Association<\/a> took up a similar initiative. Previously, <a href=\"https:\/\/u1f987.com\/en\/news\/blockchain-association-backs-grayscale-in-suit-against-the-sec\">Grayscale Investments<\/a> had done so.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Judge Sarah Netburn granted the regulator&#8217;s motion to amend two documents related to Hinman\u2019s June 2018 speech on Ethereum\u2019s status.<\/p>\n","protected":false},"author":1,"featured_media":69414,"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":[138,112,128],"class_list":["post-69413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69413","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=69413"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69413\/revisions"}],"predecessor-version":[{"id":69415,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69413\/revisions\/69415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69414"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}