Newsletter
CoinSharks
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
CoinSharks
No Result
View All Result
Home News

Court Denies SEC Motion to Seal Hinman Documents, Marking a Victory for Ripple

The Megalodon by The Megalodon
May 17, 2023
in News, Bitcoin, Regulation
0
SEC may take action against Bittrex, a crypto exchange based in the US.
389
SHARES
1.8k
VIEWS
Share on FacebookShare on Twitter

In a significant development for Ripple and the broader crypto community, United States District Judge Analisa Torres has denied a motion by the U.S. Securities and Exchange Commission (SEC) to seal the controversial Hinman Speech documents. The SEC had filed the motion on December 22, 2022, claiming that the public’s right to access the documents was outweighed by the agency’s mission and that the documents were irrelevant to the court’s summary judgment decision.

However, Judge Analisa Torres ruled that the Hinman Speech documents are considered “judicial documents” and are subject to a strong presumption of public access. She emphasized that these documents could reasonably influence the court’s ruling on a motion. The judge also rejected the SEC’s argument that sealing the documents was necessary to maintain openness and candor within the agency. According to her, the documents do not fall under the deliberative process privilege as they do not pertain to an agency position, decision, or policy.

Related articles

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

May 31, 2023
Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

May 31, 2023

While the court has ordered the Hinman Speech documents to be made public, it has granted certain requests from the SEC, including redacting names, identifying information of SEC experts and XRP investor declarants, as well as personal and financial details of the defendants. On the other hand, the court denied Ripple’s motions to seal certain information, such as references linking Ripple’s revenues with XRP sales and the compensation offered to trading platforms.

The Hinman Speech documents refer to a speech delivered by former SEC Corporation Finance Division Director William Hinman in June 2018, where he reportedly stated that Ether (ETH) is not a security. Ripple considers this speech as crucial evidence in its ongoing legal battle with the SEC, which accuses Ripple of violating U.S. securities laws through the sale of XRP.

Following the court’s decision, the price of XRP experienced a 2.6% spike, and it is currently trading at $0.43. This ruling is seen as a significant win for Ripple and has broader implications for the crypto industry as it sheds light on the regulatory stance towards digital assets.

Share156Tweet97

Related Posts

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

by The Megalodon
May 31, 2023

A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...

Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

by The Megalodon
May 31, 2023

According to a filing in the U.S. District Court for the Southern District of New York, some of the charges...

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

by The Megalodon
May 31, 2023

Dubai-based cryptocurrency exchange Bybit has revealed its decision to halt operations in Canada due to recent regulatory developments. The exchange...

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

by The Megalodon
May 31, 2023

An open statement published by the Center for AI Safety (CAIS) has garnered signatures from numerous AI experts, including the...

Competing regulatory bills take center stage in US House stablecoin hearing

US CFTC Releases Letter Addressing Compliance in Three Areas of Digital Asset Derivatives and Clearing

by The Megalodon
May 31, 2023

The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs)...

Load More
  • Trending
  • Comments
  • Latest
Kaspersky reports a 40% increase in crypto phishing attacks within a year

Kaspersky reports a 40% increase in crypto phishing attacks within a year

April 17, 2023
Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

April 18, 2023
THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

March 29, 2023
XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

March 28, 2023
Protecting Your Crypto: The Importance of AML Frameworks in Web3

Protecting Your Crypto: The Importance of AML Frameworks in Web3

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

May 31, 2023
Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

May 31, 2023
Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

May 31, 2023
AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

May 31, 2023
  • Premium Services
  • Terms of Service
  • Privacy Policy

All Rights Reserved. CoinSharks.

No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services

All Rights Reserved. CoinSharks.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.