Attorney and crypto legal expert Jeremy Hogan says the US Securities and Exchange Commission (SEC) made a huge mistake in its lawsuit involving Ripple Labs.

The SEC sued Ripple Labs in December 2020 for allegedly issuing XRP as an unregistered witness and has maintained that position to date.

In update Video Jeremy Hogan recently demonstrated how the SEC filed a motion for the court to reconsider the unsealing of emails related to a speech by former SEC Chief Financial Officer William Hinman when he said Ethereum was not a stock.

In the SEC’s proposal, the regulator said:

“The speech — the speech itself and various manuscripts and comments by SEC employees in various SEC departments and offices discussing the agency’s approach to digital regulation of digital assets — shows that Director Hinman and other SEC employees the Speech used to provide guidance to the public on how Hinman’s department would apply state securities laws to the offering and sale of securities, digital assets, including ether.

In fact, SEC regulations provide that Director Hinman’s public statements can be relied upon to represent the views of Corp Fin, which he directs.

Hogan said that Hinman’s comments on Ethereum can be relied on as a guide and that the SEC makes the mistake of declaring Hinman’s comments to be only his personal opinions.

“In a litigation, you have to have your own strategy, your own argument on the case or the theory of the matter at issue, and you have to stick with it.”

With less than two weeks until the end of the discovery phase of the case, Hogan said adjusting the SEC’s arguments at the last minute could prove very risky.

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