• The Hinman documents were finally made public on June 12 after a lengthy back and forth between Ripple and the United States Securities and Exchange Commission (SEC).
• The documents do not impact the judge’s underlying analysis of whether XRP was offered/sold by Ripple as an investment contract, or XRP’s status in the secondary markets in the United States.
• Some onlookers such as Gabriel Shapiro have called it a “nothingburger,“ while others like Fred Rispoli thought that it could help Ripple’s case.
What Are The Hinman Documents?
The Hinman documents are extensive and were finally unsealed and made publicly available on June 12 after a lengthy back and forth between Ripple and the United States Securities and Exchange Commission (SEC). These documents can be found in public resources like the Public Access to Court Electronic Records (PACER) or CourtListener.
What Implications Do They Have?
The documents do not impact the judge’s underlying analysis of whether XRP was offered/sold by Ripple as an investment contract, or XRP’s status in the secondary markets in the United States. This is considered a key defense of Ripple during its legal battle with the SEC. However, William Hinman, director of corporation finance disclaimed that his speech did not necessarily reflect those of the Commission.
Different Perspectives About The Documents
After they were unsealed, many onlookers took to Twitter calling them a “nothingburger,“ while pro-XRP lawyer Fred Rispoli had a different take when speaking to Cointelegraph claiming that it could help Ripple’s case if looked at from another perspective.
How Does This Impact SEC Credibility?
The release of these documents has caused some to question SEC credibility and their decision making process when determining whether certain digital assets should be classified as securities or not. It has also raised questions about why they would make such an important ruling without relying on one of their own directors‘ statements as evidence.
Overall, there is still much uncertainty surrounding how exactly these documents will affect Ripple’s legal battle with SEC – only time will tell how this will play out for both sides involved. It is clear however that this issue has caused debate amongst crypto lawyers about what implications these documents will have on XRP, Ether ETH $1,726 , SEC credibility and more.