• Judge Torres recently ruled against the SEC’s motion to seal documents related to former director William Hinman’s speech.
• The ruling will have a major impact on the crypto space, as Ripple is planning to use the documents in its case against the SEC.
• As a result of the ruling, XRP has surged 5.65% in the last 24 hours and is currently trading at $0.4458 at press time.
Judge Rules Against SEC Motion To Seal Documents
The SEC vs Ripple legal battle has been ongoing for years now. And the final ruling on this case is expected to have a major impact on the entire crypto space. Recently, US district Judge Analisa Torres ruled against the SEC’s motion to seal text messages and internal emails connected to former Director William Hinman’s speech document from December 22nd last year. This ruling comes months after another judge Sarah Netburn directed the regulatory agency to surrender Hinman’s speech documents to Ripple Labs Inc., which plans to use them in their defense against allegations by the SEC that it illegally sold unregistered securities through its XRP token offering.
XRP Price Surges After Ruling
As a result of this recent court ruling, XRP has seen an increase of 5.65% in its value over the past 24 hours and is currently trading at $0.4458 at press time according to CoinMarketCap data. This surge could be attributed to traders‘ anticipation of Ripple winning its case against the SEC with evidence provided by Hinman’s documents containing statements that Ethereum’s Ether (ETH) was not considered a security and also preliminary opinions and explorations of XRP itself being a non-security asset as well.
Hinman Documents Could Determine Final Court Ruling
Hinman’s speech documents are crucial for determining whether or not Ripple Labs Inc.’s alleged sale of unregistered securities through its XRP token offering was actually illegal or not according t Judge Torres‘ ruling upholding previous rulings by Judge Netburn who emphasized that these documents cannot be sealed since they are important for judicial proceedings regarding this matter between both parties involved in this long-standing legal battle: The US Securities & Exchange Commission (SEC) and Ripple Labs Inc..
Impact Of Case On Crypto Space
This court case has potential implications for other crypto assets such as Ethereum’s Ether (ETH), which could be classified as either an investment contract or security depending on how things unfold between both parties involved in this long-standing legal dispute between The US Securities & Exchange Commission (SEC) and Ripple Labs Inc.. If things go poorly for Ripple, then it could set a precedent where all digital tokens fall under government regulations like traditional investments do, thus completely changing up how digital assets are traded globally across many exchanges worldwide today if passed into law with support from Congress members representing states across America including New York State Senator Brad Hoylman who recently introduced new bills designed towards regulating cryptocurrencies more aggressively than ever before just last month alone back in April 2021 .
Conclusion
Crypto markets remain volatile due largely due in part because investors are still waiting on final rulings from high profile cases such as this one involving The US Securities & Exchange Commission (SEC) vs Ripple Labs Inc.. While there is no guarantee that either party will win their respective arguments involving matters related to classifying digital tokens as either securities or not, what we do know right now is that prices of certain tokens such as XRP have already responded positively before any final outcomes have even been decided upon yet which could very well mean great news ahead of us all when everything finally gets resolved once and for all soon enough!
