New Development in Ripple(XRP)-SEC Case

New Development in Ripple(XRP) Case
New Development in Ripple(XRP) Case

SEC Denial of Argument Against Ripple(XRP) Case

Ripple, which has been in a legal fight with the US Securities and Exchange Commission since December, has made a new gain in the lawsuit process against the SEC. SEC’s claim against Ripple(XRP) in lawsuit dismissed

According to the document shared by James K. Filan, one of the attorneys representing Ripple’s side in the case, Judge Sarah Netburn denied the SEC’s request for access to documents relating to Ripple’s legal advice on the legal status of XRP. Filan argued that this was a major blow to the SEC.

Lawyer Jeremy Hogan Comments on the Case 

Commenting on the development and closely following the litigation process, Attorney Jeremy Hogan said, “This is a very important development, because it closes the path the SEC wants to use in its legal fight with the Ripple side.” said. Another lawyer, John E. Deaton, who has been watching the process closely, said that this alone would not force the SEC to compromise, but it was a significant loss.

Next Ripple Case Will Be On June 4th

The next important date in the Ripple lawsuit will be June 4, 2021. Ripple executives Brad Garlinghouse and Chris Larsen will respond to the SEC’s defense of their request to dismiss the lawsuit on Friday, June 4.

In December, the SEC sued the Ripple company and its executives, alleging that they unregisteredly sold $1.3 billion worth of XRP to individual investors, accusing them of violating federal law. The lawsuit process is entering the sixth month. XRP, which returned from the edge of $ 2 last month, is trading at $ 0.86 today. XRP hit its highest level ever in January 2018. The price had risen to $3.80 at that time.

SEE ALSO; XRP Surges 38% After The Updates In The Ripple Lawsuit

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