On June 6, the infamous Hinman Speech docs must be unsealed by court order, according to Filan’s recent motion.

A 2018 speech from former Securities and Exchange Commission (SEC) corporation finance division director Bill Hinman essentially stated that Ether (ETH) was not a security. In response to this speech, the documents involve the SEC’s internal discussion and deliberations.

Filan, who has been following the SEC vs. Ripple case for the past couple of years, tweeted on May 17 that he would like to see the documents unsealed as soon as possible.

#XRPCommunity #SECGov v. #Ripple #XRP Update on timing regarding when we should see the documents ordered unsealed. According to the Court’s 9/12/2022 Order, the parties have 21 days to file public, redacted versions of Summary Judgment documents consistent with the sealing… pic.twitter.com/doV5fUxDG5

— James K. Filan (@FilanLaw) May 17, 2023

The court’s 2022 Order states that the parties must file public, redacted versions of Summary Judgment documents by September 12, 2022. According to the Order, the parties must file public, redacted versions of Summary Judgment documents by September 12, 2022.

Some believe that if the SEC files an appeal or the case is settled, the stated timeline may be impacted. In a recent order, the SEC has approximately 10 days to file an appeal to a specific order.

If the court orders the documents to be unsealed, other XRP enthusiasts like Ashley PROSPER believe that either side would be motivated to settle the case out of court, as they both would have the information they want to keep secret.

Ripple answers

On May 16, Ripple CEO Brad Garlinghouse tweeted that he hoped Hinman emails would be “publicly available soon.” Ripple Labs thinks this part of the case is an important piece of evidence in its defense against the SEC and its claims that XRP is a security.

Another win for transparency! Unredacted Hinman emails to be publicly available soon – stay tuned as the lawyers work through the mechanics to make that happen. https://t.co/o6puPypRHd https://t.co/qmaLVeQaP8

— Brad Garlinghouse (@bgarlinghouse) May 16, 2023

The SEC argued in late December that sealing the documents would be the only appropriate method to ensure that the court’s decision is not influenced by material protected by the federal law Privacy Act. The public has a ‘right’ to access the documents, but the SEC’s mission to ‘overweight’ the public’s right to access them outweighs the public’s right, the motion argued.

On May 16, the motion official was denied, resulting in Ripple Labs winning.

  • Ripple has acquired Metaco, a Swiss company that provides digital asset custody and tokenization technology. The company fights the SEC over its alleged violation of U.S. securities law by selling its XRP without first registering it as a security.

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