As the Ripple vs SEC case nears its end, there have been speculations that the blockchain firm might agree with the regulator to stop the public’s access to the Hinman emails.
However, Attorney John Deaton and Ripple CTO David Schwartz have both expressed their beliefs that the Hinman Emails will be released to the public, even if the United States Securities and Exchange Commission (SEC) settles with Ripple in the ongoing lawsuit.
Regarding the Hinman emails and speech drafts: the SEC has requested for them to remain sealed, even after Judge Torres’ ruling on summary judgment. I believe the emails and speech drafts will be made public at some point, regardless of Judge Torres’ decision on whether to seal. https://t.co/BcYTuh9QrW
— John E Deaton (@JohnEDeaton1) March 19, 2023
The Hinman Emails refer to the correspondence between former SEC official William Hinman and other agency officials regarding the regulatory status of cryptocurrencies, specifically whether or not the SEC considered Ethereum a security. The emails are of particular interest in the current lawsuit against Ripple, as they could contain information underlining the SEC case.
Meanwhile, Attorney John Deaton, who represents more than 11,000 XRP holders in the lawsuit, has been vocal in his calls for the Hinman Emails to be made public.
David is correct. Even if Ripple and the SEC settled today, the emails are coming out. @RoslynLayton’s motion to intervene (to obtain the emails) was ruled moot b/c the emails are being unsealed. If the case settled today, the judge would need to revisit her motion.
— John E Deaton (@JohnEDeaton1) May 28, 2023
The crypto-friendly lawyer believes that email documents could help cryptocurrency exchanges build their defense to tackle allegations of unregistered securities sales. In a recent tweet, Deaton also said there is a 75% possibility of Hinman emails being made public regardless of Judge Torres decision on whether to seal them.
Regarding the Hinman emails and speech drafts: the SEC has requested for them to remain sealed, even after Judge Torres’ ruling on summary judgment. I believe the emails and speech drafts will be made public at some point, regardless of Judge Torres’ decision on whether to seal. https://t.co/BcYTuh9QrW
— John E Deaton (@JohnEDeaton1) March 19, 2023
Ripple Cannot Prevent Public Access to Hinman Documents
Likewise, Ripple’s CTO has also weighed on this matter, stating in a recent interview that he believes the emails will be released even if the SEC settles with Ripple, as there is too much public interest in the matter for the emails to be hidden. According to him, the firm has no authority to agree to keep the documents confidential.
Recall that earlier in the month US District Judge Analisa Torres denied a request from the SEC to seal Hinman’s documents. Judge Torres in her ruling said that the documents in question are “judicial documents” and should be made available to the public since the public’s right to access outweighs all other factors, including a settlement between Ripple and the SEC.
If the emails are released, they could have significant implications for the lawsuit and the wider cryptocurrency industry. Some experts believe that it could lead to a re-evaluation of the SEC’s stance on cryptocurrencies and potentially even to changes in regulatory policy.
