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Judge Grants Joint Request to Extend Deadline for Filing of Hinman Docs
This Friday, Judge Torres granted an extension request jointly filed by Ripple and the SEC.
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On May 19th, the Securities and Exchange Commission and Ripple filed a joint request for a one-week extension for the filing of multiple “public, redacted versions” of the exhibits—including the Hinman documents. The request was, reportedly, granted later on the same day setting June 13th as the new deadline.
Judge Torres Grants SEC and Ripple’s Joint Request
This Friday, a joint request by the SEC and Ripple seeking to extend the deadline for the filing of multiple exhibits including the Hinman documents was filed. Both the Commission and the company argue that the one-week extension is needed due to the “voluminous nature” of the documents.
Later on the same day, Judge Torres reportedly granted the motion. The new deadline for filing the “public, redacted versions” of the exhibits is June 13th. Perhaps the most anticipated part of the expected filings is the Hinman documents.
The Hinman documents primarily constitute a speech given by SEC Corporation Finance Division Director William Hinman in 2018 in which he allegedly stated that ETH does not constitute a security. They have played a key part in the legal battle between the Commission and Ripple and the court recently ruled against the SEC’s motion to keep them sealed.
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Ripple Scores Series of Legal Victories Against the SEC
Several individuals on Crypto Twitter were puzzled by the joint request as both parties have had ample time to discuss the redactions that are to be made prior to the filing. Additionally, it follows a series of courtroom victories for Ripple.
While the ongoing legal battle between the SEC and Ripple that started in 2020 with the former’s allegations that XRP constitutes a security was initially expected to end in a victory for the Commission, the latter managed to score several important victories in recent months.
Some of the most high-profile victories for Ripple concern the Hinman documents. Not only was the SEC ordered to hand them over last September, but Judge Torres also denied the Commission’s motion to keep them sealed earlier this week.
Editorial note (May 22nd, 2023, 11:13 AM EST): A formatting error was fixed.
Why did the SEC and Ripple jointly ask for an extension? Tell us what you think in the comments below.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
