The post Forbes Journalist Files Amended Motion for Ripple vs SEC Case, Seeking Access to Hinman Documents appeared first on Coinpedia Fintech News
Many in the cryptocurrency industry believe that the most crucial legal issue is that between the SEC and Ripple. Yet, the commission’s regulatory approach is predicted to change if Ripple triumphs. The most recent updates state that Forbes journalist Dr. Roslyn Layton has approached the court for permission to intervene and access to the Hinman Speech Documents through an amended MOTION.
Pro-XRP lawyer James K Filan took to Twitter and shared the amended motion filed by Layton. In the motion to intervene, Layton has highlighted that the stakes are ‘extraordinarily high’ not only for Ripple but also for its executives and the thousands of XRP holders who have suffered losses in billions due to ‘SEC’s misguided effort at supposedly protecting them.’
Part of the motion read, “And the supposed guidance Hinman offered in that speech has proven inscrutable, declaring one crypto asset-Ethereum’s native cryptocurrency Ether- as completely outside the securities laws, while the SEC seeks billions in penalties from Ripple’s virtually identical offering for supposedly violating those laws.”
Adding, “That inconsistency has given rise to grave concerns about potential conflicts of interest, because Hinman had a financial stake in promoting Ethereum to the exclusion of competing coins like XRP.”
The Hinman Speech Papers will show whether Ethereum’s SEC proponents had undue interference in the crafting of Hinman’s message, or whether agency officials believed the advice offered in the speech was muddled or strayed too far from predetermined norms. Thus, public access will be essential, as stated in the motion.
It further added that the SEC’s contention that this Court has declared the documents irrelevant is incorrect. However, it also highlighted that the SEC had declared the documents are relevant to “the summary judgment motions” when it offered them in support of its own summary judgment motion.