Ripple's Legal Battle with SEC Takes New Turns

Ripple and the SEC have filed a joint letter requesting a one-week extension until June 13 to file public, redacted versions of cross-motions for summary judgment and accompanying exhibits, which includes the Hinman materials. The Hinman documents relate to a speech given in 2018 by former SEC director Bill Hinman, in which he expressed the view that Ether should not be classified as a security. Some members of the crypto community find the joint petition to be "weird." Meanwhile, Ripple CEO Brad Garlinghouse has stated that the ambiguous regulations in the US are likely to drive more cryptocurrency companies to relocate outside the country.