Judge Allows US SEC to Make Adjustments to Drafts of Hinman's State of the Air Speech

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The judge in the case between the American regulator and the company Ripple allowed the department to correct drafts of the speech of former SEC Finance Director William Hinman.

This was reported on Twitter by a former federalUS Attorney and Ripple lawyer James K. Filan. Magistrate Judge Sarah Netburn granted the SEC's motion to amend two documents related to William Hinman's June 2018 speech. 

During the speech, Director of Financestated that ether is sufficiently decentralized that it may not be classified as a security. The SEC explained that the proposed amendments address unresolved issues related to the agency.

The Ripple team hopes that the speech materialsthe former official will help win the legal battle with the SEC, which at the end of 2020 accused the company of conducting an unregistered ICO. The regulator is convinced that XRP is a security. And Ripple management insists that if the SEC does not consider ether to be an investment contract, it should adhere to the same opinion regarding XRP. Although SEC Chairman Gary Gensler recently suggested that after Ethereum switches to the Proof-of-Stake (PoS) consensus algorithm, Ether may be subject to securities laws. 

In October, Ripple obtained from the courtthe "Hinman Papers" and drafts, which are still considered confidential. It took the company 18 months to do this, as the SEC prevented the release of materials.

Previously Ripple CEO BradBrad Garlinghouse said that only the US Congress can influence the SEC's approach to regulating crypto assets, since the regulator has not responded to requests from cryptocurrency companies to clarify the standards that companies must meet.