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Ripple vs SEC: Commission Refuses To Produce The Hinman Speech

Delma Wilson - Coinpedia
2022-08-18 06:19
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It’s been a while now that Ripple has been requesting the US Securities and Exchange Commission to submit the draft of the 2018 Hinman speech and the SEC has been repeatedly refusing to do so. The Ripple vs SEC case is going on since a long time now
However, the latest update claims that SEC has now filed its response to support its stand against the court in relation to the Hinman speech. The Agency has also stated that the Ripple defendants have misinterpreted their earlier filings.
According to the latest filings by the SEC, they still hold the same stance that the Hinman speech draft contains no claims against Ripple. The agency also mentions that the drafts related to Hinman’s speech are non-public documents and even the agency has never looked into the documents.
Moreover, the SEC says that even though the speech is relevant as per Ripple’s claims, the earlier attorney-client privilege protects them, hence, the document can’t be produced.
The recent filings by the commission highlight their stance against producing documents to the court. Among them is one claim that says that the 2018’s Hinman Speech just reflects his personal view which cannot be considered a privilege. Further, the commission states that the defendants have misrepresented the said statement.

Is The SEC Just Buying The Court’s Time?

Next, the SEC asserts that they have given their statement in the case and also says that any statement made within the company will only portray their personal view.
The agency has further stated that Ripple and its defendants have failed to correct the errors in the law. The SEC is claiming that Ripple is attempting to mislead the evidence by arguing that the agency’s viewpoint on this action has shifted. It went on to say that the accusers have taken the SEC’s statements concerning the speech out of perspective.
This is yet another effort by the SEC to hide Hinman’s remarks. The defendants, on the other hand, contend that the regulator frittered away the court’s time by failing to cooperate with the judgment.
Meanwhile, the crypto community is of the opinion that the SEC is just buying time from the court and is throwing light on the question “What does the SEC have to hide?”
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