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23 April 2021

Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP – Regulation Bitcoin News

Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP – Regulation Bitcoin News


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The court has ordered the commission to produce internal records relating to discussions of whether XRP tokens are similar to bitcoin and ether, which are currently not classified as securities.

she then proceeded to order the SEC to produce internal discussions relating to whether XRP tokens are similar to cryptocurrencies like bitcoin (BTC) and ether (ETH), which are currently not regulated as securities.

The commission sued Ripple Labs, its CEO Brad Garlinghouse, and co-founder Christian Larsen in December last year claiming that they sold $1.38 billion of XRP tokens without complying with federal securities laws.

Ripple and its executives argue that one of the reasons the SEC did not take enforcement action on XRP for eight years is that the commission was confused whether XRP was more like bitcoin and ether, which have not been deemed securities, or like other cryptocurrencies and tokens which have been classified as securities.

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