SEC is yet to Ask for Reconsideration Over Hinman Documents

Ripple Expands Into France And Sweden With Its ODL Division
Ripple Expands Into France And Sweden With Its ODL Division

Judge Torres, after backing her colleague and ordering the Securities and Exchange Commission (SEC) to give Ripple the speech drafts of William Hinman, the organization has been rather silent.

However,  SEC has only two days left to file a motion asking Judge Torres to change her mind about the papers pertaining to Hinman.

Moments after the decision, many strategies the SEC might employ to delay giving the information to Ripple were outlined.

The SEC might file a motion asking Judge Torres to rethink her order, ask her to certify an appeal of her judgment, or ask the Court of Appeal for a Writ of Mandamus to postpone providing the records to Ripple.

The Securities and Exchange Commission has yet to take any action on the matter despite the fact that the decision has been reached.

SEC’s Decision is Still Unclear

James K. Filan, a former federal prosecutor, stated in a recent tweet that the SEC has two days to petition Judge Torres to reconsider her ruling on the matter.

He added that the deadline for submitting a motion for review of Judge Torres’ decision regarding the SEC’s objections to the Hinman documents would be October 13.

Although it’s unclear what action the SEC will take next, many individuals think the organization will take all necessary precautions to prevent giving the information to Ripple. The founder of Crypto Law and attorney John Deaton asserts that the SEC would prefer to reach a deal with Ripple than turn over the Hinman notes.

Many people think the Hinman documents could disclose the SEC’s internal view on cryptocurrency legislation, which could have more serious repercussions than Ripple-related issues.

SEC and Ripple Have Been at Loggerhead for a While

Hinman, a former director of the SEC’s Corporation Finance, played a crucial role in the SEC’s legal battle with Ripple. The disagreements stemmed from his 2018 speech, in which he labeled Ethereum as a non-security.

Ripple thinks there is no way the internal SEC team could have avoided discussing the business while crafting Hinman’s 2018 address. requesting the agency to provide the speech’s drafts as a result.

Every attempt to get the SEC to give the documents to Ripple has met with resistance. Many are curious as to what the SEC will do after Judge Torres ordered the agency to provide Ripple access to Hinman’s materials.