The price of XRP reacted with growth to the court decision in the case against the SEC

The court rejected the request of the US Securities and Exchange Commission (SEC) to classify part of the documents in the case against the crypto company Ripple. Ripple CEO Brad Garlinghouse said on Twitter (the social network is blocked in Russia) that letters from one of the former top managers of the agency, Bill Hinman, which may contain important information for the business, will soon become publicly available, writes RBC Crypto.

The SEC sued Ripple in 2020, alleging that the company should have registered the XRP cryptocurrency (XRP) as a security, but failed to do so. Over the years, the SEC case against Ripple has become one of the most important cases in the industry, and its end result could have serious implications for the rules for the circulation of digital assets in the United States.

Part of the litigation focused on documents related to a 2018 speech by former SEC corporate finance director Bill Hinman that included remarks about why he did not consider cryptocurrencies to be securities.

The SEC attempted to cover up documents and messages related to Hinman’s speech, claiming that his words reflected personal views and not agency policy. The commission also said the papers were part of Hinman’s responsibilities and are protected by law, which keeps internal discussions private.

But Judge Analysis Torres May 16 rejected SEC petition. She noted that these documents are subject to “a strong presumption of public access.” Lawyers are already working to get the letters released to the public, Garlinghouse said.

After investors learned about the court decision favorable for the crypto company, the native coin of the blockchain ecosystem Ripple XRP (XRP) rose in price by 8.2%, from $0.424 to $0.459. XRP is the sixth cryptocurrency by market capitalization with a figure of more than $23.4 billion. According to CoinGecko, the asset is trading around $0.451 as of 09:45 Moscow time.