June 12 Update: Crucial Developments in Ripple vs. SEC Lawsuit

In light of the imminent unveiling of the fraught documents, the cryptocurrency industry continues to closely monitor individuals directly involved in the ongoing legal battle.

Revelation of the Hinman Documents

John E. Deaton, legal scholar and friend of the court (amicus curiae) to Ripple, recently shared his insights regarding the potential impact of the disclosure of certain emails on the ongoing litigation.

The documents reference a speech given by former SEC chief William Hinman at a summit in 2018, in which he stated that Ethereum (ETH) and Bitcoin (BTC) are not considered securities. The disclosure of these documents could have a significant impact on policy makers in this arena:

The emails won’t change Howey’s analysis, but they will likely illustrate the challenge of applying precedents from the 1930s/1940s to today’s technology. The emails are likely to support Coinbase and Ripple in the court of public opinion and hopefully spur bipartisan efforts in Congress.

— Said John E. Deaton

At the same time, Deaton predicted that the emails will expose Hinman’s significant conflicts of interest.

As a reminder, in December 2022, he gathered his followers on Twitter to find out the illegible parts of the controversial document. In particular, it concerned the comments of Brett Redfern, former SEC director of Commerce and Markets.

Indeed, most agreed that one of the phrases referred to “market confusion” or “more speculation”. This indicates that Redfern had warned that the speech would cause “market confusion” or “increased speculation”. Deaton recently repeated the question:So why give the speech?

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Ripple investors are gearing up for an important day

As the current situation unfolds, the cryptocurrency sector continues to attentively monitor developments in the ongoing legal battle. The documents and emails that will soon be made public could have a profound impact on the digital currency landscape.

Tomorrow, June 13 in particular, marks an important day for investors in Ripple. On this day the so-called ‘Hinman documents’ are published. These documents contain references to a speech given by former SEC chief William Hinman, in which he stated that Ethereum (ETH) and Bitcoin (BTC) are not considered securities. The publication of these documents could significantly affect Ripple’s price and may have implications for the wider crypto market.

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