Benzinga - In a blow to the Securities and Exchange Commission (SEC), a judge has denied the regulator’s recent motion to seal records related to the internal deliberations following a speech by former director, William Hinman.
What Happened: This development has been hailed as a win by Ripple Labs, which is associated with XRP (CRYPTO: XRP).
XRP is up 8% in the last 24 hours, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) gains.
Judge Analisa Torres, presiding over the Ripple vs SEC, case on Tuesday emphasized that the Hinman documents are judicial documents, meaning there is a strong presumption of public access and they cannot be sealed.
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Why It Matters: Ripple’s CEO Brad Garlinghouse, welcomed the decision, calling it “another win for transparency!”
Another win for transparency! Unredacted Hinman emails to be publicly available soon – stay tuned as the lawyers work through the mechanics to make that happen. https://t.co/o6puPypRHd https://t.co/qmaLVeQaP8— Brad Garlinghouse (@bgarlinghouse) May 16, 2023
The SEC filed the motion in December last year to seal internal emails, text messages, and expert reports related to Hinman’s speech.
Price Action: At the time of writing, XRP was trading at $0.45, according to Benzinga Pro.
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