The court granted Ripple Labs’s attorneys’ request for access to the Securities and Exchange Commission (SEC) internal documents, which referred to Ripple and the commission’s approach to defining digital currencies. According to many, this is Ripple’s first major victory in the case.
to the Report Ripple attorneys Coin Telegraph can access documents in which the US Securities and Exchange Commission mentions digital currencies, approaches to them or interpretations of the definition of those currencies.
Assistant Judge Sarah Netburn has allowed Ripple to use the minutes and internal notes of the US Securities and Exchange Commission in the process of obtaining evidence. Netburn also said that there was no need to check the emails of the commission staff. In addition, he has authorized both parties to the dispute to challenge the decision.
In December, the US Securities and Exchange Commission sued Ripple Labs, CEO Brad Garlinghaus and Ripple chairman Christine Larsen for $ 1.8 billion in unlicensed securities since 2013.
Ripple announced from the beginning that he intended to appear in court to prove the allegations wrong. Ripple’s defense states that this is a digital currency such as Ethereum and Bitcoin, which have been classified as “commodities” by the US Stock Exchange Commission. Ripple also raises the question of why this commission has been considering a complaint 8 years after Ripple was launched!
Matthew Solomon, a Garlinghouse lawyer, said the case could be closed if he could find evidence that Ripple, Bitcoin and Ethereum were similar.
Since the lawsuit against Ripple has been going on for eight years, the company’s lawyers believe that they can use this issue to present evidence to the court that shows the contradictory decisions of the US Stock Exchange Commission regarding the classification of Ripple. Solomon said:
We need to provide evidence to defend ourselves.
Dugan Bliss, a lawyer with the US Securities and Exchange Commission, also criticized Ripple for using the commission’s internal documents to appear in court instead of defending his illegal actions.
Advertising actions [ریپل] This is an issue that we need to focus on.
During the hearing, Judge Netburn also noted the high level of public attention. According to him, during the hearing, more than 500 people called and followed up on the case using a public telephone. Netburn also said that broadcasting the meeting was against New York law. He said about this:
Anyone who is somehow involved in replaying the talk may face punishment.
Yesterday, Jeremy Hogan, the lawyer following the case, tweeted about the 2016 case being closed. According to him, in this case, Ripple Labs is mentioned as an “active company in the field of digital currencies”. He further wrote:
The US Securities and Exchange Commission must now explain to the court how a digital currency company has become a “digital securities company”.
It is worth noting that the price of Ripple has increased by 100% compared to last week. In the last 24 hours, we have seen a 20% increase in the price of this digital currency.