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Ripple Asks Court to Force SEC to Produce Documents Regarding Bitcoin and Ethereum
The lawyers who represent Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen are asking Federal Judge Analisa Torres to compel the U.S. Securities and Exchange Commission to produce documents relevant to its lawsuit against the blockchain company. In a motion filed on March 15, they claim that the SEC has failed to produce any documents apart from the ones that were selected by the regulator. Ripple wants the regulator to produce documents regarding Bitcoin and Ethereum, the two largest cryptocurrencies that have been defined as non-securities. Notably, it asserts that “the economic substance” of XRP transactions doesn’t differ from that of the aforementioned cryptocurrencies even though the token often faces criticism for its centralization. The SEC claimed that documents related to Bitcoin and Ether were irrelevant to the case
Ripple says the SEC is withholding evidence The blockchain company accuses the SEC of “withholding potentially exculpatory evidence,” claiming that it’s “clear” that exchanges were told that XRP wasn’t a security. Read more...
Cryptonaire Weekly | March 16th 2021
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