It’s been a while now that in an ongoing lawsuit, Ripple was continuously requesting its opponent, the US Securities and Exchange Commission (SEC), to provide the draft of the Hinman 2018 speech. But the SEC refused to provide it.
Recently, the SEC requested the court to keep the Hinman documents private, saying that it was not the time to reveal the documents to the public. But Ripple believes it will be a shred of major evidence to win the case against SEC. The crypto community believes that the SEC is just buying court time by creating doubts about whether the regulator is hiding something.
Stuart Alderoty, General Counsel at Ripple, said it was worth fighting to get major evidence. He tweeted, “Over 18 months and 6 court orders, we finally have the Hinman documents. Meanwhile the documents remain confidential at the SEC’s insistence”
The Hinman documents contain a speech made by the former SEC director William Hinman that he made at the Yahoo markets summit held in June 2018. He reportedly said that the native token of Ethereum is not a security. At that time, there was still no clear guidance from the US regulator body on how they classify digital assets.
Why does the SEC have to hide?
In December 2022, the financial regulatory body filed its motion to seal certain documents in connection with the motions for summary judgment. The SEC requested district judge Analisa Torres that “The firm respectfully maintains that the Hinman Speech Documents are protected by privilege.”
Source: https://www.thecoinrepublic.com/2022/12/26/sec-is-still-not-ready-to-reveal-the-hinman-documents-to-the-public/