4-0! Court Rejects SEC Application Relating to XRP Status Advice & Views - Kakiforex.com - Financial Market Media No. 1 in the World 4-0! Court Rejects SEC Application Relating to XRP Status Advice & Views 4-0! Court Rejects SEC Application Relating to XRP Status Advice & Views
InstaForex

May 31, 2021

4-0! Court Rejects SEC Application Relating to XRP Status Advice & Views

 Once again a crypto firm, Ripple recorded a victory in a lawsuit trial by the Securities and Exchange Commission (SEC).


Judge Sarah Netburn reportedly denied the SEC’s application for access to evidence that included any advice or discussion on XRP’s status.


This is the court's answer as a result of the trial two weeks ago.


Indirectly, Netburn’s decision further strengthens the fair notice defense filed by Ripple, stressing the legal agency failed to warn the firm and that XRP -related market players are unregistered securities.



For the record, in a May 21 virtual hearing, the SEC insisted on obtaining records of XRP -related communications involving Ripple and his attorneys.


SEC attorney Jorge Tenreiro claimed a ‘game over’ if it was found that the firm failed to follow his attorney’s advice and views regarding XRP status.


Most recently, the SEC accused Ripple of lobbying the public with an application for six new witnesses. The SEC also asked Ripple to provide new documents proving the allegations.


Ripple’s victory this time makes it the 4th victory after a court rejected the SEC’s application to obtain the personal financial records of Ripple CEOs Brad Garlinghouse and Chris Larsen.


At the time of writing, XRP posted a trading value of $ 0.8, jumping nearly 7% in 24 hours.