Ripple has asked the court to deny the U.S. Securities and Exchange Commission’s request to extend the period for filing a petition to review the ruling under its recent deliberation process.
Ripple keeps demanding Ethereum docs from SEC
The SEC asserts that the requested relief will not affect any existing deadlines if approved. The detection deadline has been pushed to February 18.
However, the defendants stated that they would be affected by any further delays, alleging the plaintiffs adopted a “wait and see” approach to delay the production of documents that could focus on the case.
On January 13, Magistrate Judge Sarah Netburn partially granted the defendants’ motion to compel the regulator to produce documents that the SEC was withholding due to deliberative process privilege, allowing government officials not to produce pre-decisional records.
Among other documents, the SEC was ordered to create an internal e-mail containing a draft of a now-famous speech by former executive William Hinman. He declared that Ethereum, the second-largest cryptocurrency, wasn’t a security.
Ripple has been crying foul at the lack of regulatory clarity since the start of its legal battle with the SEC, and it’s determined to find out why the regulator started “picking winners and losers.” Ripple started seeking documents related to Bitcoin and Ethereum shortly after being hit with the lawsuit in December 2020, filing a Freedom of Information request last January. In July, the defendants successfully accused Hinman of testifying about the speech. The former SEC official emphasized that the speech was merely his personal opinion and did not reflect the agency’s views.
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