Ripple scores a goal when the SEC judge denies access to the company’s legal advice
The good news came in the middle of a rather gloomy trading day for the cryptocurrency market. Within, developments The latest in the Ripple vs. SEC lawsuit is sure to make XRP owners happy. Judge Sarah Netburn reportedly declined the SEC’s offer to access any legal advice from Ripple.
Ripple scores another goal when the SEC judge denies access to the blockchain company’s legal advice
Ripple scored another major goal against the US Securities and Exchange Commission. Magistrates Court Judge Sarah Netburn denied the SEC’s request for access to any legal advice Ripple requested or received regarding the regulatory status of XRP.
This decision reiterates Ripple’s defense of fair communication, based on the premise that the agency failed to alert the company and other market participants that XRP is an unregistered security.
The SEC’s lead litigator, Jorge Tenreiro, stated:
“Ripple will go game over if they choose not to take legal advice from a lawyer.”
In a conference call on May 21 on the matter, Tenreiro said:
“What if your attorney tells you you still have to face the SEC? It would have been a bad ending for their defense that they were confused. We don’t know what they exchanged. “
However, the judge said she had no opinion on whether the lawsuit was admissible or fair.
“The court has no opinion on whether Ripple can be defended and whether such a defense is recognized or proven fair. I just wonder if Ripple takes his stance or the lawyer’s advice is in question and they are just trying to move the defense forward. “
In late April, the SEC filed a motion against Ripple’s motion, calling it legally illegal. The security guard could renew its application if Ripple relies on its privileged communications to support fair dismissal protection.
4-hour XRP / USD price chart | Source: TradingView
At press time, XRP is trading at $ 0.882, up 8% over the past 24 hours.
According to the AZCoin News