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US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference – Regulation Bitcoin News

SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference
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In a new development in the Securities and Exchange Commission (SEC) fight against Ripple Labs, US District Judge Sarah Netbourne has directed both parties to hold a “telephone discovery conference on Tuesday, April 6, 2021.” The judge’s order directs the parties to discuss the compulsion request submitted by Ripple’s attorney.

movement to force

On March 15, attorneys representing Ripple Labs CEO Brad Garlinghouse and Christian Larsen asked Judge Netburn to compel the Securities and Exchange Commission to submit documents related to the lawsuit against the fintech firm.

Ripple’s attorneys argue in their lawsuit that this court order request was necessary due to the regulator’s refusal to provide the required documents. Specifically, the lawyers allege that the Securities and Exchange Commission failed to present “a single document relating to Bitcoin or Ether — two virtual currencies very similar to XRP.”

Moreover, in their proposal, the attorneys also allege that the Securities and Exchange Commission (SEC) failed to provide internal documentation regarding the legal status of XRP. The lawyers are also seeking “any documents from ten of the nineteen guards proposed by the defendants.”

XRP Army Responses

Meanwhile, following the judge’s order, some Ripple supporters on Twitter praised the judge’s decision, which they believe will help the fintech firm’s case. For example, a Twitter user known as Kingslayer wrote:

This would be a major step, as the internal communications to the SEC news will eventually be revealed. April 6th will be a day to look forward to. A lot of clarity may come out.

Another user, CNF asks: “Am I the only one who feels that both Ripple and the SEC have a good idea of ​​how damaging these documents are? Over 8 years of endless posts, guidelines and advice distributed by multiple parties without a coherent regulatory policy .”

In the meantime, the order is also asking members of the public interested in hearing about the Discovery Conference to call a number that “will be circulated to parties prior to the conference.”

What do you think of this court order? Tell us what you think in the comments section below.

Terence Zimoara

Terence Zimoara is a Zimbabwean award-winning journalist, author and writer. He has written extensively about the economic problems of some African countries as well as how digital currencies can provide Africans with an escape route.

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