Ripple has just won a new legal victory in its battle with the US Securities and Exchange Commission.
Federal Judge Sarah Netburn denies the SEC’s request to compel Ripple to produce documents related to its previous lobbying activities.
Netburn previously denied the SEC access to Ripple’s communications with attorneys. The judge quoted this rejection in her most recent judgment:
“The SEC’s request to force production of documents related to Ripple’s lobbying efforts is REJECTED. As discussed in the court’s earlier opinion and order to deny access to Ripple’s privileged communications, Ripple’s defense is focused on the activities of the SEC, not its own conduct …
By doing Likewise, Ripple’s lobbying efforts regarding the status of XRP are not relevant; and any
The relevance argument is outweighed by the production load. “
The SEC officially filed a complaint against the payment giant in December, claiming that Ripple’s native asset, XRP, was an unregistered security when it was launched and remains a security to this day.
Recently, the regulator also tried to force Ripple to keep records relevant to XRP transactions and post-complaint efforts. However, Netburn denied that too.
“The SEC’s request to compel documents after the date of the complaint is denied without prejudice. If, after the exchange of expert opinions between the parties, it becomes clear that the Ripple expert relied on documents that in fairness require the SEC to review documents after the complaint, the SEC may renew its application. “
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