SEC Threatens Appeal If Hinman Documents Become Public

Key Points:

• SEC issues a threat and begs district judge Analisa Torres not to make the Hinman documents public because the company could contest the summary judgment ruling.

Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), has called for a crackdown on the cryptocurrency business based on current rules and case law, but he may find his nemesis in Ripple and the dispute over the Hinman documents.

The SEC’s filing reveals that it is still not ready to release the Hinman documents to the public.

In the filing, the agency issues a threat and begs district judge Analisa Torres not to make the materials public.

The SEC respectfully maintains that the Hinman Speech Documents are protected by privilege. But if these documents were to become part of the public record, the SEC would be foreclosed from making any such argument in the future (on appeal in this litigation or in other litigation), which would be highly prejudicial to the SEC.

In response to this statement, Ripple community lawyer Jeremy Hogan said that the SEC is still arguing that the Hinman emails are privileged after losing that argument around 100 times previously.

Additionally, Bill Morgan, a community lawyer, draws attention to the warning. It claims that Torres is not permitted to make the Hinman records public because the company could contest the summary judgment ruling.

In the end, the agency claims that because it sent the emails to Ripple as instructed, it did not surrender the privilege in favor of the public.

Furthermore, the attorney maintained that under the court’s findings, there is no privilege that may or cannot be waived. At the same time, Morgan grants credibility to the SEC’s claim because the agency can still appeal. This does not conclusively resolve the confidentiality problem.

It is not a question of the value of the decision in this case as a precedent but a question of res judicata.

Morgan said

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