In a new twist in the Securities and Exchange Commission’s (SEC) battle against Ripple Labs, U.S. District Judge Sarah Netburn has ordered the two parties to meet on Tuesday, June 6, 2021, to arrange a conference call. The judge asked the parties to discuss the motion by Ripple’s attorneys.
Application for enforcement
The 15th. In March, lawyers representing current Ripple Labs CEO Brad Garlinghouse and Christian Larsen asked Judge Netburn to force the Securities and Exchange Commission to produce documents related to the regulator’s lawsuit against the fintech company.
In their motion, Ripple’s attorneys argued that the request for this ruling was prompted by the regulator’s refusal to provide the requested documents. Specifically, the lawyers claim that the SEC has not provided any document regarding bitcoin or Ether – two virtual currencies that are very similar to XRP.
In addition, the attorneys argue in their motion that the Securities and Exchange Commission does not provide internal documentation on the legal status of XRP. Counsel also request the records of ten of the nineteen guardians proposed by the defendants.
XRP army response
Meanwhile, some Ripple supporters on Twitter welcomed the judge’s decision, which they say will help the fintech in its efforts. For example, a Twitter user known as Kingslayer wrote:
This would be a big step, as SEC News’ internal communications would finally be exposed. The 6th. April is a day we look forward to. There could be a lot of clarity.
Another user, CNF, asks: Am I the only one who thinks Ripple and the SEC have a pretty good idea of how cumbersome these documents are? More than 8 years of endless positions, guidelines and opinions from different parties, without a unified regulatory policy.
At the same time, the interested public is invited to register for the inaugural conference, which will be distributed to participants prior to the conference.
What do you think of this court’s decision? Tell us what you think in the comments below.
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