Court Grants Ripple Access to Internal Trading Policies of SEC

Sahaj  |  Jun 24, 2021

The court has recently granted the request of Ripple, to get access to the internal trading policies of the SEC. Judge Sarah Netburn has ordered SEC to let Ripple have a look at the internal trading policies of the commission.

Court Gives Permission to Ripple to Access Internal Trading Policies of SEC

The court has proposed that the request of Ripple has met the lower bar for relevance and said:

“The Court finds that the information sought meets the low bar for relevance, including potentially with respect to the claims against the Individual Defendants.”

As per the argument made by the United States Securities and Exchange Commission, the internal trading policies of its employees were irrelevant.

In addition to this, Ripple claimed that it was necessary to see the dissimilarity the regulatory body had drawn between XRP and other digital assets and stated:

“The SEC’s treatment of the trading in digital assets, including any distinctions it draws between XRP and other digital assets, is directly relevant to show the SEC’s own perspective on digital assets, which is relevant both to the applications of the Howey test and Ripple’s fair notice defense.”   

Crypto Firm Strengthening The Case

It has been witnessed that the exchange commission is also unwilling to hand over its internal communications in relation to Bitcoin, Ethereum, and XRP, which has proven to be one of the most controversial discovery disputes in the case.

This also gave rise to the accusations of non-acquiescence from the defendants provided that the court has already issued two orders to present the above-mentioned documents.

Along with this, it should be noted that earlier this month, the judge of the court addressing the case of Ripple vs SEC, granted the request of the exchange commission for a 60-day discovery extension in the case of the crypto firm.

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