Ripple To Assess Docs That Drove SEC To Label XRP As A Security

Ripple To Assess Docs That Drove SEC To Label XRP As A Security

The Ripple vs SEC lawsuit has taken multiple turns to date. While the Securities and Exchange Commission [SEC] of the United States stuck to its assessment of categorizing XRP as a security, Ripple tried to persuade the financial watchdog to view XRP as mere a cryptocurrency. After multiple attempts of a settlement, none of the parties agreed to do so, further persisting the lawsuit.

More recently, the Ripple was subject to some good news after the U.S. Magistrate Judge Sarah Netburn decided to grant the platform access to SEC’s documents that played a role in assessing XRP as a security. This seemed highly beneficial for the platform as XRP has been enduring nothing but losses. Despite, its plunge towards $1, the asset once again dropped by over 17% in the last 24-hours.

Ripple vs SEC

While Judge Netburn exempted staff-to-staff email from this latest motion, the SEC was ordered to give Ripple access to all other documents that mentioned XRP. The Judge also provided both parties the option to raise issues with the ruling. As per Law360, the Judge added,

“I’m going to grant, in large part, the defendants’ motion.”

Several regulators across the globe have been assertive about how XRP was not a security. However, the SEC continued to retain its decision. With the latest development in favor of the crypto platform, Brad Garlinghouse’s counsel, Matthew Solomon suggested that the SEC’s allegation would not stand if Ripple garners any piece of evidence that suggests XRP was similar to assets like Bitcoin [BTC] or Ethereum [ETH].

In a recent filling addressed to Judge Netburn, the SEC stated,

“For almost a decade, the SEC watched as XRP grew and developed, all the while issuing no formal guidance that its sales may be illegal. The SEC did, however, announce that sales of two similar digital assets — bitcoin and ether — were not securities offerings.”

Published at Wed, 07 Apr 2021 16:43:25 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.