Ripple wins access to SEC discussions on defining crypto assets as securities

Ripple wins access to SEC discussions on defining crypto assets as securities


Ripple Labs has been granted access to U.S. Securities and Exchange Commission documents “expressing the agency’s interpretation or views” on the subject of crypto assets.

According to Law360, U.S. Magistrate Judge Sarah Netburn granted the defendants’ motion “in large part,” determining that SEC minutes or memos concerning crypto are likely discoverable. Netburn asserted staff-to-staff email communications do not need to be produced.

Netburn also allowed for the SEC and Ripple to raise disputes with the ruling.

Trending: Robin Bullock: Why They Are Desperate To Stop The “Last Trump”

In December, the SEC filed a lawsuit alleging Ripple Labs, its CEO Brad Garlinghouse, and chairman Christian Larsen, raised $1.38 billion through an unlicensed security offering in August 2013.

Ripple has challenged the SEC’s suit, claiming that XRP is akin to Bitcoin or Ethereum — both of which have been classified as commodities by the SEC, in addition to criticizing the eight years taken for the agency to file its complaint against Ripple.

Law360 reports that Garlinghouse’s counsel, Matthew Solomon, believes it may be “game over” for

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend