By Richard Hines
The Securities and Exchange Commission (SEC) has filed a motion to keep the previously released Hinman’s Document from the public eye, claiming it is irrelevant to this case.
A Motion To Conceal Documents
The SEC and ripple case has dragged on for over two years with no resolution. However, motions were made by both parties to have this case judged in a single ruling.
In addition, an agreement was reached between the SEC and Ripple regarding Hinman’s document, which Ripple has used as leverage against the SEC. This document is said to contain inside information about the speech the commission’s head made about securities years ago.
However, the SEC recently filed a motion with the court to reiterate its stance on involving Hinman’s document, requesting that it be concealed as the SEC believes it has no connection or relevance to this case.
The case at hand is one of Ripple’s organization native token XRP, with the debate over whether these tokens are unregistered securities and whether Ripple was aware of this and continued to trade in this token.
The U.S. SEC appealed and asked the court to suppress and conceal papers and evidence, along with Himmam’s document, arguing that it was irrelevant to the dispute, in a submission on December 22nd.
The attempt to hide this document balls down to claims that it contains information that could be used against the SEC.
Ripple Claims They Have A Copy Of The Document
According to the SEC’s plea to the court, the public’s right to access records unrelated to the current case is prohibited by the agency’s mandate. Additionally, the SEC body asked that all material and documents pertaining to the Hinman Document that the Ripple Organization supplied be redacted and kept out of the courtroom and this case.
The SEC has advocated for the confidentiality, secrecy, and privacy of these documents. To their misfortune, insider intelligence has it that the Ripple Organization has a copy of the Hinman’s document and is prepared to make a deal with it.
The court rejected this request from SEC notwithstanding the motion and request to keep information confidential, claiming that the SEC was attempting to conceal crucial evidence.