In the latest news, today Ripple has won the right demanding the SEC to submit internal documents related to Bitcoin (BTC) and Ethereum (ETH).
This means that the general public can ‘spy’ on the SEC’s undisclosed actions, especially those involving crypto regulatory status.
For the record, on March 15 Ripple Labs with its defendants; CEOs Brad Garlinghouse and Chris Larsen have filed an action forcing the SEC to submit documents about the authority’s stance on Bitcoin and Ethereum, or documents their internal discussions on XRP.
The SEC has accused the sale of XRP tokens of violating securities laws. However, the matter does not apply to BTC and ETH. In fact, the SEC described the offering of the two tokens as not a ‘securities’ category that was considered biased.
Earlier, former SEC chairman Jay Clayton and former director of enforcement William Hinman publicly made statements that BTC and ETH were not considered securities. What is questionable is how it was decided because no clear guidelines related to it were gazetted by the SEC.
At this point, Ripple is still waiting for the SEC to withdraw the allegations while claiming XRP as a ‘virtual currency’, much like Bitcoin and Ethereum. This is also eagerly awaited by XRP investors who want the case to be resolved as soon as possible without going through a trial process in August.
At the time of writing, XRP is trading at $ 1.09, soaring over 25% in 24 hours.
