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Ripple’s Hinman Victory: Is This the Turning Point?

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The Securities and Exchange Commission (SEC) could be on the verge of defeat following Ripple’s Hinman victory. The papers are due for release on June 13. Could they make the legal case unwinnable for the SEC?

Ripple has achieved a victory against the SEC by successfully opposing the agency’s motion to seal the “Hinman speech documents.” These include internal drafts and emails related to a speech given by former SEC Director William Hinman over four years ago. A speech that explicitly contradicts the legal basis on which the SEC seeks to prosecute Ripple.

The Ripple Hinman Victory Could Be Decisive

Supporters of Ripple say the speech proves that the SEC did not consider ether (ETH) a security at the time Hinman made it. Ripple’s lawyers have been trying to uncover more information about Hinman’s conclusion, as it could impact the classification of XRP.

In its recent filing, the SEC attempted to justify the need for confidentiality. The agency claimed that the documents were irrelevant to the summary judgment motions. And also argued their disclosure could harm the agency’s interests.

Brad Garlinghouse, Ripple’s CEO, was quick to share his pleasure at the verdict. “Another win for transparency,” he tweeted. “Unredacted Hinman emails to be publicly available soon – stay tuned as the lawyers work through the mechanics to make that happen.”

Reactions to the Ripple Hinman Outcome

People active in the crypto industry, and the legal realm, were quick to react. John Deaton, managing partner of the Deaton Law Firm, said on Twitter: “It is clear that things said in the Hinman emails specifically contradict arguments made by the SEC.” Deaton had previously predicted that the Ripple case will not settle due to the Hinman emails, as the SEC seems to have accepted that they will eventually become public.

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Author: Josh Adams

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