Ripple continues to demand Ethereum documents from SEC


Alex Dovbnya

Ripple Wants to Prevent SEC From Withholding Draft of Infamous Ethereum Speech

Ripple has asked the court to dismiss the U.S. Securities and Exchange Commission’s request to extend the deadline to file a motion to reconsider the recent deliberative process ruling.

The SEC states that the requested waiver, if granted, will not affect existing deadlines. As reported by U.Today, the discovery deadline has been pushed back to February 18.

Defendants, however, allege they would be prejudiced by further delay, accusing the plaintiff of taking a wait-and-see attitude to delay the submission of documents that could potentially be central to the case.

On Jan. 13, Magistrate Judge Sarah Netburn partially granted the defendants’ motion to compel the regulator to produce some documents that the SEC withheld because of deliberative litigation privileges, preventing government officials from submitting pre-decision files.

Among other documents, the SEC has been ordered to produce an internal email drafting the now infamous speech by former executive director William Hinman, in which he stated that Ethereum, the second-largest cryptocurrency, was not a security. .

Ripple has wept over the lack of regulatory clarity since the start of the legal battle with the SEC, and it is determined to find out why the regulator started “picking winners and losers.” Ripple began seeking documents related to Bitcoin and Ethereum shortly after it was hit by the lawsuit in December 2020, and filed a freedom of information request in January of last year.

In July, the defendants successfully forced Hinman to testify about the speech. The former SEC official stressed that the speech was only his personal opinion and did not reflect the views of the agency.

Leave a Reply

Your email address will not be published.