SEC fought hard to keep emails private in the on-going lawsuit with Ripple
In recent updates to the Ripple-SEC lawsuit, the controversy over emails from the SEC continues with another filing due this Friday. The SEC’s proposal to extend attorney-client privilege endorsements and recompile speech documents will be available this Friday, April 29.
SEC’s motion to renew the assertion of attorney-client privilege over & redact the speech documents is due this Friday. The judge has narrowly confined the scope to redact but the SEC signalled in its 15 April letter that many documents are subject to attorney-client privilege pic.twitter.com/uPdAAO9327
— bill (@Belisarius2020) April 26, 2022
Ripple v. SEC: Battle over SEC emails rages on with further filing due this Friday
Previously, the SEC had told that court that it would be filing new privileged assertions in a last-ditch effort to halt the production of emails related to the infamous Ethereum speech of William Hinman, the former director of the SEC’s Division of Corporate Finance. The agency had also stated its intent to oppose the court’s deliberative process privilege (DPP) ruling, asking for additional time.
The SEC says that the defendants are prepared to proceed to summary judgment without a ruling on the Hinman emails and documents.
— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 15, 2022
Ripple asked the SEC to disclose 70 emails about the infamous speech distributed within the agency. The SEC went to great lengths to keep the emails private, even issuing an expert report when it was eventually discovered. In a speech given in 2018, William Hinman, then the SEC Director of the Financial Corporation, stated that Ethereum is not a security.
The SEC was criticized by the court, and it was ordered to pay the defendant’s costs and the cost of re-disposing an expert witness.
After being sued by the Securities and Exchange Commission at the end of 2020, Ripple received a lot of backlash from the crypto community for targeting Bitcoin and Ethereum in their Wells announcement and dumped the cryptocurrency. blame the SEC for picking “winners and losers.” At the same time, members of the XRP community believe that the SEC created an uneven playing field for other projects by allegedly providing clarity for the top two cryptocurrencies.
Ripple CEO Brad Garlinghouse recently stated that maximalism is a significant roadblock for the sector. Garlinghouse, who owns Bitcoin and Ethereum, believes that several cryptocurrencies can succeed, which is why tribalism has no place in the crypto world.
In updates over the weekend, Ripple’s general counsel, Stuart Alderoty, said that Ripple is working to resolve the case as soon as possible. However, there will most likely be a solution by 2023. ”To all that have been following the case thus far – thank you. Know that Ripple is pushing hard to resolve the case as soon as possible, despite the SEC doing everything they can to delay”, he stated.
- The Lawsuit Between Ripple And SEC May Have Entered Into Its Worst-Case Scenario
- The SEC – Ripple Lawsuit Witnessed Allegations Of Constant Delays; why?