The recent ruling in the Ripple-SEC lawsuit is in favor of the San Francisco cross-border payment firm.
A judge ruling has asked the United States Securities and Exchange Commission (SEC) to turn over an email containing a draft of former director William Hinman’s statement on whether Ethereum (ETH), the second-largest cryptocurrency by market cap, was deemed a security.
The exciting news was shared with the XRP community on Twitter by Former Federal prosecutor James K. Filan a couple of hours ago. According to Filan, the SEC believes discrete portions of the notes it was asked to turn over reflect the notetaker’s thinking or reflect deliberations among SEC staff and therefore gave limited access.
Howbeit, the securities regulator is expected to surrender the email with Hinman’s speech and some notes from meetings between SEC staff and third parties.
James K. Filan tweeted, “BREAKING: DPP Decision: Ripple’s motion is GRANTED in part as to Parts A, C-F, H-K, N, and P of Entry 1 of Appendix A, and GRANTED in full as to Entry 9 of Appendix A. To the extent the SEC believes discrete portions of the notes in Entry 1 express the notetakers’ own thinking or reflect deliberations or communications among SEC staff, the SEC may seek leave for limited redactions. Defendants’ motion is otherwise DENIED.”
According to Attorney Jeremy Hogan in reaction to the news, this is another big win for Ripple and the XRP community as the lawsuit progresses:
“Ripple did NOT do as well as I thought they would. The Judge seems to need to very little to tie a document to a “deliberation” AND has concluded that Hinman’s speech was just his opinion. BUT, Ripple does get the emails discussing Hinman’s speech! Score: SEC = 2 Ripple = 1.”
Ripple did NOT do as well as I thought they would.
The Judge seems to need to very little to tie a document to a "deliberation" AND has concluded that Hinman's speech was just his opinion.
BUT, Ripple does get the emails discussing Hinman's speech!
Score: SEC = 2 Ripple = 1 https://t.co/VcQgej3YXi
— Jeremy Hogan (@attorneyjeremy1) January 13, 2022