The countdown has begun for the summary judgment papers to be unsealed in the ongoing legal battle between blockchain payment protocol #Ripple and the US Securities and Exchange Commission (SEC).

According to a tweet from attorney James K. Filan, following the court's decision dated September 12, 2022, interested parties were given a 21-day period to submit redacted versions of these critical documents to the public. The application deadline has been set as June 6.

The regulator alleged that Ripple Labs, the company associated with cryptocurrency #XRP , conducted an unregistered securities offering by selling XRP. Ripple Labs responded by arguing that XRP is not a security but a cryptocurrency like Bitcoin or Ethereum. The filing of summary judgment papers is expected to provide further clarity on the claims made by both sides in this high-stakes case.

In the midst of an escalating legal battle with the U.S. Securities and Exchange Commission (SEC), Ripple Labs recently celebrated a small victory for transparency. Ripple CEO Brad Garlinghouse announced that the court ordered the unsealing of unredacted emails from former SEC official William Hinman.

Adding fuel to an already tense atmosphere, Garlinghouse recently accused the SEC of hypocrisy in its public statements about the case. Garlinghouse and other crypto industry leaders are expressing frustration with the SEC's vague stance on cryptocurrency regulation, claiming it is hindering the growth of the burgeoning sector.