The US Securities and Exchange Commission (SEC) has asked to invalidate the documents relating to 2018 in which Hinman claims decisive things for the outcome of the legal dispute between the American regulator and Ripple Labs, sparking criticism from sympathizers and investors.
The Securities and Exchange Commission filed a motion to block the aforementioned summary judgment document a week ago. The request makes particular mention about information and documents that are linked to the 2018 speech of the former executive of the American regulatory body. William Hinman in 2018 held the role of Director of the Financial Division and in June of the same year, during a speech he stated that the Ethereum (ETH) token was not to be considered as a security.
That speech, according to the lawyers, is the fundamental evidence to tip the scales of justice in favour of Ripple Labs against the SEC.
In taking the position of the regulator, the Securities and Exchange Commission even believes that the motion presented must prevail over the right (therefore that the SEC is above the law) to have access to documents if it believes they are not relevant to the determination of the case at before the Court of the United States of America.
In addition to the unpresentability of Hinman’s aforementioned speech, the SEC has also requested the deletion of any mention of such a document even in the defendants’ documents as if the deposition had never taken place.