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Breaking: Court victory for Ripple as judge denies SEC motion to seal Hinman docs

Press Releases Crypto News Cointelegraph Breaking: Court victory for Ripple as judge denies SEC motion to seal Hinman docs

A motion from the United States securities regulator to seal records of its internal deliberations following a speech by former director William Hinman has been denied — a move that has been seen as a win for the Ripple and crypto community.

In the June 2018 speech, the former Securities and Exchange Commission corporation finance division director stated that Ether (ETH), the native token of the Ethereum blockchain, is not a security.

The SEC filed the motion on Dec. 22 to seal the internal emails, text messages and expert reports that followed Hinman’s speech, arguing that its mission outweighed the “public’s right” to access documents that have “no relevance” to the court’s summary judgment decision, among other arguments.

However, Judge Analisa Torres for the U.S. District Court ruled that the documents are “judicial documents” subject to a strong presumption of public access.

The Hinman Speech Documents “would reasonably have the tendency to influence [the Court’s] ruling on a motion,” she added.

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

Judge Torres said the court has also rejected the SEC’s argument that sealing the documents is necessary to preserve “openness and candor” within the SEC, stating:

“The Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision or policy.”

While the court has ruled the Hinman Speech documents will be made pub

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Author: Felix Ng

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