The US Securities and Exchange Commission (SEC) has been reviewing documents related to Ripple, JPMorgan and the XRP community as part of an ongoing Freedom of Information Act (FOIA) request. Ashley Prosper, an XRP community member, made the request last year to seek disclosure of any communications between the regulatory body and the bank concerning the cryptocurrency. The SEC responded with a statement indicating that the agency requires additional time to review the documents, as a large portion of them requires confidential treatment.

The FOIA request is in response to XRP community members' belief that certain private companies may have had an influence on the SEC's move to sue Ripple in December 2020. Despite efforts to have the documents released, the SEC has continually pushed back the release date. In March, Prosper contacted FOIA advocates to take legal action against the SEC over the postponement.

Digital Asset Investor, a well-known crypto influencer, suggests that the emails from JPMorgan might be more significant than the ones released in 2018 concerning the William Hinman speech. This speech declared Bitcoin and Ethereum to be non-securities, and demonstrated that the SEC was willing to work within the crypto domain. After 18 months and six court orders, the SEC eventually passed on the documents last year, however, they remain confidential and the public is unaware of their contents.

The ongoing exchange between the SEC and the XRP community is a crucial development in the world of cryptocurrencies. It is important to understand the influences of private entities on the SEC's decisions in the industry, and for companies to be held to account for their part in shaping the environment. The outcome of the FOIA's requests could have significant implications for the future of cryptocurrencies.



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