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SEC Finally Hands Over Hinman Docs To Ripple
Ripple Obtains Long-Sought Documents of Former SEC Official Who Declared Ethereum Not a Security
Himanshu S.
8:18 21st Oct, 2022
Adoption

The long-awaited Hinman files have been given to Ripple.

The U.S. Securities and Exchange Commission (SEC) has handed over internal documents to Ripple Labs Inc. containing comments by former SEC Corporation Finance Division director William Hinman on cryptocurrencies, Ripple’s general counsel Stuart Alderoty said on his verified Twitter handle on Friday.

In his tweet, Alderoty was quoted saying “Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them.”

Fast facts

  • This follows the Sept. 2U.S. district court ruling requiring the SEC to give the documents to Ripple Labs. The document includes internal SEC emails and drafts of Hinman’s speech at the Yahoo Finance All Markets Summit in June 2018.
  • “Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them,” wrote Alderoty on Twitter.
  • Hinman’s speech includes the division director’s statement saying that Ether is not a security.
  • This development could become a significant milestone in the legal battle between Ripple and the U.S. securities regulator. The SEC filed its 2020 lawsuit against Ripple Labs accusing the company of using its XRP token as an unregistered security to raise funds.
  • The outcome of the suit could set a precedent for classifying cryptocurrencies under U.S. financial regulations.

Read his full tweet:

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