The United States Securities and Exchange Commission (SEC) has finally turned over William Hinman’s documents after over 18 months and 6 court orders, which is a big win for Ripple, the San Francisco-based cross-border payment firm.
The new development was announced by the general counsel at Ripple Stuart Alderoty. According to the report, the SEC has released Hinman’s emails and drafts of his 2018 speech.
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Alderoty said although it remains confidential for now, the documents are well worth the fight to get in favor of Ripple.
Stuart Alderoty tweeted, “Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them.
“I’ve always felt good about our legal arguments, and I feel even better now. I always felt bad about the SEC’s tactics, and I feel even worse about them now.”
I’ve always felt good about our legal arguments, and I feel even better now.
I always felt bad about the SEC’s tactics, and I feel even worse about them now.— Stuart Alderoty (@s_alderoty) October 20, 2022
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Recall that the SEC filed a lawsuit against Ripple in December 2020 for allegedly selling XRP as an investment contract for relatively seven years. A similar lawsuit was also filed against two of the firm’s top executives, Brad Garlinghouse (CEO) and Chris Larsen (co-founder).
Ripple has been making moves over the last 18 months to make the SEC release the draft of Hinman’s speech of 2018, where he said Ethereum (ETH) is not a security.
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