Court Grants Ripple’s Motion, Orders SEC to Disclose Bitcoin and Ethereum Documentation

Court grants Ripple’s access to SEC crypto discussions.

U.S. District Judge Sara Netburn granted Ripple’s motion for access to the SEC documents revealing the regulator’s “interpretation and views” on Bitcoin and Ethereum, according to Law360.

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The company will gain access to meeting minutes and internal documents. Email correspondence among SEC staff will not be disclosed. The regulator may appeal the decision.

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Ripple CEO Brad Garlinghouse welcomed the development.

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Today was a good day.

— Brad Garlinghouse (@bgarlinghouse) April 6, 2021

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Ripple’s general counsel Matthew Solomon said the judge’s decision could provide grounds to dismiss the SEC’s suit, Law360 reports.

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“Now the SEC must explain to the court how a ‘digital currency’ turned into a ‘digital security’, — wrote the lawyer.

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(2/2) Apparently the SEC agreed with FinCEN — at least back in 2016! The SEC must now explain to the Court how a «digital currency» transformed to a «digital security.» That explanation is part of the batch of documents the parties will be fighting over today.

PS. Happy Tuesday!

— Jeremy Hogan (@attorneyjeremy) April 6, 2021

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Earlier Hogan said that an SEC attorney in court confirmed that exchanges and other platforms do not violate the Commission’s guidelines when selling XRP.

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In anticipation of Coinbase relisting and a positive outcome of the court case with the SEC, the XRP token rose 71.8% over the last seven days. On April 6, the price topped the psychological $1 level.

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