- Officials from Ripple anticipate the documents sought by the SEC will expose debate among the agency’s top officials on how to identify XRP as a security, undercutting the SEC’s position.
- John Deaton, the founder of CryptoLaw, offers a thread from the conference call. Judge Netburn began the conference call by reminding both parties of the hearing’s goal and then asked the SEC to offer clarity on what legal advice former Director William Hinman got and for what purpose it was given, according to the stream of tweets.
- The SEC did not respond to Judge Netburn’s inquiry in its response, but did state that he nevertheless sought legal assistance about the legal difficulties he encountered in that speech, even if it was his personal opinion.
According to Fox correspondents Eleanor Terrett and Charles Gasparino, the Ripple lawsuit could be decided by a speech given four years ago by former Securities and Exchange Commission officer William Bill Hinman. The release of the Hinman records, which Ripple believes are essential to establish it did nothing illegal and that the SEC is picking winners and losers in the nascent crypto market, was discussed in person by Federal Judge Sarah Netburn on Tuesday.
Conference Call Between Ripple And The SEC Reactions
Officials from Ripple anticipate the documents sought by the SEC will expose debate among the agency’s top officials on how to identify XRP as a security, undercutting the SEC’s position.
John Deaton, the founder of CryptoLaw, offers a thread from the conference call. Judge Netburn began the conference call by reminding both parties of the hearing’s goal and then asked the SEC to offer clarity on what legal advice former Director William Hinman got and for what purpose it was given, according to the stream of tweets.
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Looking For Legal Assistance To Educate Himself
That speech was completely legal, the SEC said, adding that Hinman sought legal advice from SEC attorneys on the application of securities laws to digital assets for his address. So he wasn’t looking for legal assistance to educate himself on legal principles, but to ensure he wasn’t inconsistent? Judge Netburn interjected to make sure she had understood the statement correctly. The SEC responded affirmatively.
Netburn then reminded the SEC that Hinman’s remarks were his personal opinions, not the SEC’s. She inquired, Do you still stand by that statement today? The SEC did not respond to Judge Netburn’s inquiry in its response, but did state that he nevertheless sought legal assistance about the legal difficulties he encountered in that speech, even if it was his personal opinion. While speaking about the Ripple SEC hearing, XRP-friendly attorney Jeremy Hogan believes that the SEC took a major step backward on a crucial issue.
Source: https://www.thecoinrepublic.com/2022/06/09/xrp-lawsuit-former-sec-officials-speech-will-now-decide-the-course-of-the-ripple-case/