{"id":78844,"date":"2023-05-17T10:02:35","date_gmt":"2023-05-17T07:02:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78844"},"modified":"2025-09-11T07:39:57","modified_gmt":"2025-09-11T04:39:57","slug":"xrp-climbs-about-7-after-court-rejects-sec-motion-in-ripple-case","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/xrp-climbs-about-7-after-court-rejects-sec-motion-in-ripple-case\/","title":{"rendered":"XRP climbs about 7% after court rejects SEC motion in Ripple case"},"content":{"rendered":"

The XRP price jumped about 6.8% over the last 24 hours. The token reacted to the rejection<\/a> by the judge of the SEC<\/span>‘s motion to seal documents related to the testimony of former regulator William Hinman from 2018.<\/p>\n

At the time, the former director of the agency’s corporate-finance department said<\/a> that Bitcoin and Ethereum, for various reasons, are not securities.<\/p>\n

In December 2020 the SEC filed a lawsuit against Ripple<\/a>, accusing the company of selling unregistered securities.<\/p>\n

Later Fox Business published a major investigation<\/a> into the case. Journalists concluded that those behind the suit may have been affiliated with Ethereum.<\/p>\n

Empower Oversight, a nonprofit organization, pointed to a potential conflict of interest<\/a> in the actions of former high-ranking Commission officials.<\/p>\n

Ripple’s lawyers, for much of the case, tried<\/a> to obtain documents related to Hinman’s testimony, and build the startup’s defense around them.<\/p>\n

In the motion, the SEC stated that its mission ‘overweights the public’s right to access’ to information that ‘does not relate’ to the decision in a summary-judgment<\/a> proceeding.<\/p>\n

The regulator also asked to ‘edit’ any references to Hinman’s speech by the defendants, seal information about the agency’s expert witnesses and XRP holders who provided declarations. A similar demand applies to internal agency documents reflecting debates and discussions by officials.<\/p>\n

The judge did not side with the SEC’s arguments.<\/p>\n

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“These are documents that are subject to a strong presumption of public access. [\u2026] They are not protected by the deliberative process privilege, since they are not related to the agency’s position, decision, or policy”,<\/em> she said.<\/p>\n<\/blockquote>\n

Ripple CEO Brad Garlinghouse called the ruling a win for transparency.<\/p>\n

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“Unredacted Hinman emails will soon be publicly available \u2014 stay tuned as lawyers work out the mechanism to make that happen”,<\/em> he wrote.<\/p>\n<\/blockquote>\n

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Another win for transparency! Unredacted Hinman emails to be publicly available soon \u2014 stay tuned as the lawyers work through the mechanics to make that happen. https:\/\/t.co\/o6puPypRHd<\/a> https:\/\/t.co\/qmaLVeQaP8<\/a><\/p>\n

\u2014 Brad Garlinghouse (@bgarlinghouse) May 16, 2023<\/a><\/p><\/blockquote>\n