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Ripple has asked the court to deny the U.S. Securities and Exchange Commission’s request to extend the deadline for filing a motion to review a recent deliberative process decision.
The SEC says the requested measure will not affect existing deadlines, which have a February 18 deadline. The defendants, in turn, say that any delay will harm the firm.
On January 13, Magistrate Sarah Netburn partially granted the defendants’ motion to compel the regulator to release certain documents that the SEC withheld due to deliberative privilege. It allows government officials not to submit reports until a decision is made.
Among other documents, the SEC was ordered to submit an email message containing a draft of the infamous speech by former director William Hinman, in which he stated that the second largest cryptocurrency, Ethereum, is not a security.
Ripple has been opposing the lack of regulatory clarity since the start of its legal battle with the SEC, which is why the company is determined to find out why the regulator started “picking winners and losers.” Ripple lawyers have requested documents related to bitcoin and ethereum, which explain the principle of their removal from the category of securities.
In July, defendants forced Hinman to testify about his performance. The former SEC officer emphasized that his statement was an expression of personal opinion, which did not reflect the agency’s point of view.
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