The SEC and Ripple have asked for more time to unseal the Hinman papers


James Filan has informed us that the court records relating to the Hinman case will be disclosed on June 13.

Defence attorney and former federal prosecutor James Filan, who has been following the Securities and Exchange Commission (SEC) vs. Ripple case carefully for the last several years, provided an update on the possible unsealing of the Hinman papers on May 19.

Bill Hinman, a former director of the SEC’s corporate finance section, delivered the remarks to which these materials refer in 2018. During his talk, Hinman argued that Ether is not a security and so should not be treated as one. The SEC’s internal discussions and debates over this address are documented here.

A portion of the crypto community views the coalition’s petition as “weird.” The original redactions were the subject of in-depth negotiations between the parties. Perhaps there’s nothing more to it than what’s on the page, yet something seems off. Something seems to have shifted, and a frantic effort seems to be underway, behind the scenes.

In an interview with CNBC on May 18, Ripple CEO Brad Garlinghouse predicted that the lack of clarity in US crypto rules will force many businesses to move operations overseas. As a consequence of these regulatory gaps, Ripple is aggressively looking to expand its workforce and make investments in other countries.

The statements by Garlinghouse to CNBC came only days after Ripple paid $250M to purchase Swiss blockchain custody startup Metaco. Thanks to this purchase, Ripple will be able to provide enterprise services for the custody, issuance, and settlement of tokenized assets. Ripple predicts that the market for institutional crypto-custody will grow to $10 trillion by 2030, as an increasing number of top financial executives use these services.

Also Read: Cardano Launches 1,000 Smart Contracts in 2023 to Overtake Ethereum

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