Ripple has scored another major win as the SEC loses privilege issues before Judge Torres. In a recent court ruling, Judge Torres ordered that the SEC turn over the emails of its former employee, William Hinman, after much foot-dragging from the agency.
According to an update shared by the former federal prosecutor, James K. Filan, ‘’Judge Torres overrules the SEC objections and orders the SEC to turn over the Hinman documents.”
Per Fox correspondents, Eleanor Terrett and Charles Gasparino, the Ripple lawsuit could all come down to the speech made by former Securities and Exchange Commission official William “Bill” Hinman four years ago. Hinman in a 2018 speech stated that Ethereum was not a security.
Ripple officials believe the documents that the SEC is looking to keep confidential will reveal disagreement among the agency’s top officials about labeling XRP security, undermining the SEC’s position.
The duo further reported that the meeting schedule of the former SEC official William Hinman might offer a thorough look into the agency’s thinking as it began to consider how best to control the nascent cryptocurrency market, but it could also support the growing belief that the SEC unfairly targeted Ripple in its crackdown.
The price of XRP suddenly gained 4 percent within an hour on the news.
Here Is What Might Come Next
Regarding the DPP and the attorney-client battle over former SEC official William Hinman’s documents, Judge Torres has now delivered a decision on the matter. Filan thinks SEC could file a motion asking Judge Torres to reconsider her decision, which would further delay things.
Now that the SEC has lost privilege issues before Judge Torres, James K. Filan earlier predicted there are chances that the agency might try to file a motion for certification of an interlocutory appeal to the second circuit, which may stretch out the resolution of the Hinman email issue longer than expected.
