Winning Against SEC, Ripple Cryptocurrency Price Gets Green Light

Ripple wins legal victory over SEC (Tech Crunch)

JAKARTA – After months of struggling at the court, Ripple has finally received legal certainty from the United States Securities and Exchange Commission (SEC).

According to DailyHodl, the SEC forced Ripple to produce documents containing XRP offers to third parties. However, the request was rejected by Federal Judge Sarah Netburn. Previously, Netburn had also rejected the SEC's request to access Ripple communications.

“The SEC's request to compel documents related to Ripple's lobbying efforts was denied. As discussed in previous Court Opinions and Orders denying access to Ripple's privileged communications, Ripple's reasonable notice defense centers on the SEC's activities, not its own actions…”, Judge Netburn said.

With the same denial, the judge dismissed the SEC's allegation against Ripple. It is considered irrelevant.

“In the same vein, Ripple's lobbying efforts regarding the status of XRP are irrelevant; and whatever the relevance argument is in proportion to the production costs”.

As is well known, the SEC filed a lawsuit against Ripple for not registering its assets with the SEC before XRP was traded.

Not only that, but the SEC also forced Ripple to keep records related to XRP transactions that had been made before. This request was rejected by the judge.

“The SEC's request to compel the creation of documents after the date of the complaint was rejected without consideration. If, after the parties exchange expert reports, it becomes clear that the Ripple expert (team) relied on a document that in the interest of (joint) fairness requires the SEC to review the post-indictment document, the SEC may renew its application", said judge Sarah Netburn.