Ripple Lawsuit Update: All Recent Developments

SEC vs Ripple Lawsuit: The ongoing legal dispute between Ripple Labs Inc., the creators of the XRP digital currency, and the US Securities and Exchange Commission (SEC) has captivated the global crypto community. This litigation, initiated by the SEC in December 2020, rests on the assertion that Ripple conducted unregistered securities transactions by selling XRP, which the SEC views as a security, not a currency.

This fundamental disagreement over XRP’s classification has sparked a drawn-out and complex legal battle, which is watched closely by stakeholders within and beyond the crypto market due to its implications for the broader industry.

Ripple’s Recent Victories Against the SEC

Ripple’s legal battle with the SEC has not been without remarkable victories. These have not only strengthened the company’s defense but have also set a precedent for similar cases in the future.

One of the most notable victories was when Judge Sarah Netburn, who is presiding over the case, granted Ripple’s request for access to the SEC’s internal communications about Bitcoin and Ethereum. This move could reveal the SEC’s internal discussions and viewpoints regarding the two leading cryptocurrencies. These, just like XRP, emerged as innovations in the financial technology sector but have been treated differently by regulators.

The disclosure of these internal discussions may provide crucial insights into the SEC’s process of distinguishing a security from a currency, which is central to the case. Still, the SEC and Ripple requested an extension on the date to file the documents due to the “voluminous nature of the materials and redactions.”