Has the SEC’s Reign Come to an End?

Ripple has won a legal victory against the Securities and Exchange Commission (SEC) by opposing the agency’s motion to seal documents related to a speech given by former SEC Director William Hinman over four years ago. These documents could impact the classification of Ripple’s XRP. Supporters of Ripple claim that the speech contradicts the legal basis on which the SEC seeks to prosecute Ripple. Ripple’s CEO, Brad Garlinghouse, tweeted his pleasure at the verdict and said that the unredacted Hinman emails will soon be publicly available. Crypto Twitter largely saw this as a groundbreaking judgment with far-reaching implications, however, it did not lead to a sudden market rally. The papers are due to be released on June 13, and there had been speculation that this signaled a settlement, but analysts generally believe this is unlikely. If Ripple and the SEC settle, the industry-wide clarity about similar digital assets could be affected. The Hinman victory offers hope that Ripple will carry on the fight against the SEC.