A legal expert will weigh in on how Ripple Labors and the U.S Securities and Exchange Commission are likely to proceed.
James K. Filan is a crypto attorney. He says that he hopes US District Judge Analisa Torres will decide which documents to unseal in the case, and not before.
The SEC sued Ripple for the first time in 2020. It argued that Ripple had sold the crypto asset, XRP, as an unregistered security.
Ripple has won a recent court victory. The court ordered that the SEC produce documents Ripple intended to use as evidence. These documents include a statement of interests by William Hinman (ex-Director of Corporate Finance), along with drafts and emails.
Hinman’s 2018 speech stated that Ethereum (ETH) was not secure.
Filan said that because the Hinman documents remain sealed all references to them will likely be redacted in any upcoming court filings.
“To the extent that Hinman documents are cited, I believe the SEC is planning to redact such references as it has in the past.” I don’t think Judge Torres will rule on sealing issues anytime soon after January 9th, because this is probably not how Judge Torres intends to approach the rest of this case.
Filan claims that he expects the judge to make a broad ruling during her summary judgement, much like she did in past cases.
“This is exactly what the judge did in a Goldman Sachs case. It involved sealing disputes and challenges to experts. There were also motions for summary judgement. These issues were all decided simultaneously by the judge in one ruling. In a footnote to that ruling, she stated that if it’s discussed here, it’s a document of judicial importance, it was mine and I will make it public.
“So we shouldn’t expect a separate ruling regarding the sealing of expert materials, Hinman documents and other material relied on by the parties.” I believe she will resolve everything in one place, even though she won’t rule on the motions for summary judgment.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
