The ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple has taken another turn. The SEC had requested that certain documents related to former SEC official William Hinman’s statements on cryptocurrency be sealed, but the court has denied this request.
SEC’s Request to Seal Documents Denied
The SEC had argued that the documents contained sensitive information that could harm the agency’s ability to regulate the cryptocurrency industry. However, the court disagreed and denied the request to seal the documents.
The documents in question are related to a speech given by Hinman in 2018, in which he stated that Bitcoin and Ethereum were not securities. Ripple has argued that this statement is evidence that the SEC’s case against them is flawed, as XRP should also be considered a non-security.
Ripple has welcomed the court’s decision, stating that it shows the SEC’s case is weak. The company has been fighting the SEC’s allegations that it conducted an unregistered securities offering when it sold XRP to investors.
The court’s decision to deny the SEC’s request to seal the documents is a small victory for Ripple, but the case is far from over. The next hearing is scheduled for September 28, where the court will hear arguments from both sides on whether XRP is a security or not.
The SEC’s request to seal documents related to William Hinman’s statements on cryptocurrency has been denied by the court. Ripple has welcomed the decision, but the case is still ongoing, with the next hearing scheduled for September 28.