Friday, December 9, 2022
HomeCryptocurrencyBig Win For Ripple and XRP: Judge Torres Orders SEC to Release...

Big Win For Ripple and XRP: Judge Torres Orders SEC to Release Hinman Emails

Ripple, the US-based cross-border payments firm, has recorded another big win in the ongoing XRP lawsuit with the United States Securities and Exchange Commission (SEC) as Judge Analisa Torres ordered the regulator to release the draft of William Hinman’s speech of 2018, which have been the bone of contention between the two parties over the past months.

It can be recalled that the SEC filed an objection to the ruling made by Judge Netburn on Hinman’s documents. In the filed objection, the SEC argued that the magistrate misinterpreted the law by stating that the attorney-client privilege does not protect Hinman’s speech draft.

Read Also: Ripple CEO: SEC Is Busy Scrutinizing XRP While U.S. Continues To Lag Behind Other G20 Countries

In a pronouncement a couple of hours ago, Judge Torres said magistrate Netburn’s ruling will stand because it’s not contrary to the law.

Referring to the previous ruling, Judge noted that, “Judge Netburn determined that the DPP does not apply to the Internal Speech Documents because those documents were intended to facilitate the communication of Hinman’s own opinions regarding the application of the securities laws to digital asset offerings and not the opinions of the SEC.”

Although Torres agrees with some of SEC’s claims, she still believes that Judge Netburn’s ruling is in line with the law.

In her pronouncement, she said, “Therefore, the SEC’s objections to Judge Netburn’sfindings with respect to the SEC’s assertions of the DPP are OVERRULED.”


Read Also: Ripple CEO Brad Garlinghouse Slams the SEC in Defense of Ethereum, Says He Holds BTC, ETH, XRP

The judge further noted that “The Court finds that the SEC has not carried its ‘heavy burden’ of showing that Judge Netburn’s determination was clearly erroneous… For the foregoing reasons, the Court OVERRULES the SEC’s objections and directs the SEC to comply with the Orders.”

Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Latest News & Articles

Recent Comments