No ruling was made yesterday as XRP holders were left disappointed.
The much-anticipated conference, held yesterday to discuss the issues surrounding Willam Hinman’s documents, ended without any ruling made by Judge Sarah Netburn.
While the XRP community was excited to listen to the proceedings of the conference, many were disappointed that no ruling was made.
As expected, the SEC tried to put up all forms of defense to ensure that the narrative still remains that Hinman’s documents are protected by the attorney-client privilege.
SEC’s Argument
However, throughout the duration of the proceedings, it was evident that the SEC was only making the attorney-client assertion just to suit its previous attorney-client claim over Hinman’s documents.
The SEC has consistently argued that it should not be asked to turn over Hinman’s document because the agency’s former Director of the Corporation of Finance discussed it with some attorneys at the agency before formulating his 2018 speech that declared Ethereum a non-security.
The SEC reiterates that the speech reflects Hinman’s personal opinion in his capacity as Director of the Corporation of Finance.
Judge Netburn Not In Support of SEC’s Argument
However, Judge Netburn does not seem to understand how anybody would request legal advice in developing a personal speech.
“I can’t be sure what legal advice could be given in the ‘development’ of a speech,” Judge Netburn stated.
Interestingly, the SEC argued that Hinman sought legal advice in a bid to avoid his speech from contravening “securities laws with respect to digital assets.”
The SEC added that Hinman’s speech was only advice to general market participants and not to any particular project.
Fox Journalist Reacts to Recent Proceedings
This comment prompted reactions from members of the cryptocurrency community, including Eleanor Terrett, a Fox Business journalist who has been one of the followers of the Ripple v. SEC lawsuit.
Reacting to the SEC’s comment that Hinman was advising market participants, Terrett tweeted:
“SEC counsel: ‘Hinman was giving advice to the market.’ Whoa.”
SEC counsel: “Hinman was giving advice to the market”.
Whoa. https://t.co/SIw7Wnxfw5
— Eleanor Terrett (@EleanorTerrett) June 7, 2022
Terrett also proceeded to comment on the entire proceeding of the conference held yesterday, as she noted that Judge Netburn’s tone throughout the entire hearing is clear, adding:
“I would be very surprised if she rules in favor of keeping the #Hinman documents under wraps after this.”
No ruling today but the tone Netburn set throughout this entire hearing is clear.
I would be very surprised if she rules in favor of keeping the #Hinman documents under wraps after this. https://t.co/8usjKIMxVN
— Eleanor Terrett (@EleanorTerrett) June 7, 2022
Hearing Adjourned
Meanwhile, Judge Netburn assured the public that she will go through all relevant documents before delivering a ruling on the matter as soon as possible.
Although no date has been fixed for a verdict on the SEC’s renewed attorney-client claim over Hinman’s documents, the Ripple community is hoping that the ruling favors the blockchain company.
The hearing was adjourned, with no date fixed for subsequent sittings.
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Source: https://thecryptobasic.com/2022/06/08/fox-business-journalist-suggests-judge-sarah-netburn-may-compel-sec-to-surrender-william-hinmans-documents-to-ripple/?utm_source=rss&utm_medium=rss&utm_campaign=fox-business-journalist-suggests-judge-sarah-netburn-may-compel-sec-to-surrender-william-hinmans-documents-to-ripple