SEC Finally Hands Over Hinman Docs To Ripple

By Anthony • October 20, 2022 11:41 pm • Comments

The long-awaited Hinman files have been given to Ripple.

Ripple’s General Counsel Stuart Alderoty announced on his Twitter that the SEC has handed over the Hinman files to Ripple Labs.

The files contain comments by the SEC’s former Corporation Finance Divison  Director William Hinman regarding cryptocurrencies.

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In his tweet, Alderoty was quoted saying “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.”

Read his full tweet here:

Yahoo had these details to add:

the U.S. Securities and Exchange Commission (SEC) has handed over internal documents to Ripple Labs Inc. containing comments by former SEC Corporation Finance Division director William Hinman on cryptocurrencies, Ripple’s general counsel Stuart Alderoty said on his verified Twitter handle on Friday.

This follows the Sept. 29 U.S. district court ruling requiring the SEC to give the documents to Ripple Labs. The document includes internal SEC emails and drafts of Hinman’s speech at the Yahoo Finance All Markets Summit in June 2018.

“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,” wrote Alderoty on Twitter.

Hinman’s speech includes the division director’s statement saying that Ether is not a security.

This development could become a significant milestone in the legal battle between Ripple and the U.S. securities regulator. The SEC filed its 2020 lawsuit against Ripple Labs accusing the company of using its XRP token as an unregistered security to raise funds.

U.Today had more details to share:

Ripple’s general counsel Stuart Alderoty has just revealed that the U.S. Securities and Exchange Commission has finally complied with the court order to turn over the long-demanded Hinman documents. Alderoty made the revelation via Twitter, celebrating the move as a victory for Ripple as the documents strengthen the blockchain company’s legal arguments. He added that the documents are internal SEC emails and drafts of the regulator’s former director of corporation finance infamous 2018 speech, are still sealed from the public. “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,” he wrote.

“I always felt bad about the SEC’s tactics, and I feel even worse about them now.” Ripple not compromising on its position The SEC turned in the documents in compliance with a court order passed late last month by U.S. District Court Judge Analisa Torres. Before the latest ruling, the securities watchdog had flouted six other orders to turn in the documents.

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