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Ripple CEO Says SEC's "Shamefulness" Will Shock You

Fri, 10/21/2022 - 06:01
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Alex Dovbnya
Ripple says that it finally has Hinman docs, claiming that its content will be shocking and damaging for the SEC's case against the company
Ripple CEO Says SEC's "Shamefulness" Will Shock You
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According to Stuart Alderoty, general counsel at Ripple, the defendants finally managed to get their hands on the internal emails and drafts of former U.S. Securities and Exchange Commission official William Hinman.   

It took Ripple 18 months and six court orders to get access to these documents.

As reported by U.Today, the court has repeatedly rejected the SEC’s arguments about deliberative process privilege (DPP) and attorney-client privilege.

After examining the documents, Alderoty now says that it “was well worth the fight.”

He added that Ripple now feels “even better” about its legal arguments in the case. At the same time, he says that he feels even worse about the case for now.

The documents remain confidential for now due to the SEC’s request, Alderoty says.    

Shocking “shamelessness”

Ripple CEO Brad Garlinghouse says that the SEC’s “shamefulness” will be shocking for those who follow the case.

“The SEC wants you to think that it cares about disclosure, transparency, and clarity. Don’t believe them,” Garlinghouse said.

The SEC has been accused of giving Ethereum preferential treatment after Hinman said that the cryptocurrency wasn’t a security in his infamous 2018 speech.

However, the regulator has distanced itself from the speech, claiming that the views of its former official do not represent those of the agency.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at