• The SEC and Ripple have submitted a joint letter requesting an extension until June 13, 2023 to file public, unredacted versions of their cross-motions for summary judgment.
• The extension is sought to include the Hinman materials in the motions.
• Judge Analisa Torres ruled against the SEC’s attempt to seal documents related to former official William Hinman’s 2018 speech on cryptocurrency and securities.
SEC and Ripple Seek Extension for Filing Unredacted Cross-Motions
The Securities and Exchange Commission (SEC) and Ripple have submitted a joint letter requesting a one-week extension, until June 13, 2023, to file public, unredacted versions of their cross-motions for summary judgment and accompanying exhibits. This includes the highly anticipated Hinman materials which add to the intrigue surrounding the case as both sides prepare their arguments for a decisive legal showdown.
Judge Ruling Prior To Extension
Prior to this announcement, district judge Analisa Torres ruled against the U.S. Securities and Exchange Commission (SEC) in their attempt to seal documents associated with former official William Hinman’s 2018 speech on cryptocurrency and securities to Ripple. The judge stated that such documents cannot be sealed as they are deemed relevant to the ongoing legal proceedings; however they can be redacted of personal information while ordering them unsealed.
The joint request opened the door to additional comments from members of the Twitter community who suggest that settlement talks may be in progress between both parties involved in this legal battle.
Ripple & SEC Legal Dispute
The dispute between Ripple Labs Inc., its CEO Brad Garlinghouse, its chairman Chris Larsen, along with XRP II LLC over XRP tokens has been ongoing since December 2020 when it was first filed by the United States Securities & Exchange Commission (SEC). The SEC alleges that XRP tokens constitute an unregistered security under U.S law due to its sale without proper registration since 2013 when it was first launched by Ripple Labs Inc.. In addition, they allege that Garlinghouse & Larsen are liable for violating federal securities laws through their involvement with XRP token sales over recent years as well as promotion activities related thereto.
In conclusion, both parties involved in this legal battle seek an extension until June 13th so that they can present their arguments and evidence in an unredacted manner before then specified deadline set forth by judge Analisa Torres earlier this month after ruling against SEC’s efforts at sealing documents related to William Hinman’s 2018 speech on cryptocurrency and securities law . While there is speculation amongst certain members of Twitter community regarding potential settlement talks being underway between both entities involved , no concrete evidence or statements made by either party support these claims at time of writing .