SEC vs. Ripple: the Court Refused to Review the Decision on DPP

Attorney James Filan said that the US Securities and Exchange Commission (SEC) was unable to seek a review of the court’s decision regarding DPP.

DPP is a principle of law that allows the SEC to refuse to disclose documents or testify, citing the confidentiality of data and sources.

Judge Sarah Netburn denied the SEC’s motion to review the confidentiality of documents related to a 2018 speech by the regulator’s former director of corporate finance, William Hinman, when he stated that, for various reasons, Bitcoin and Ethereum are not securities.

According to the judge, the SEC’s contention that the speech was intended to inform Corporation Finance’s approach to regulating digital asset offerings contradicts the SEC and Hinman’s previous position that the speech reflected his personal views.

In her opinion, “the speech was either meant to reflect agency policy or it wasn’t.”

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