Regulations
By James Thorp
1 / 13
Until SEC goes after ETH, BNB and a bunch of others while XRP heads past both ETH and BNB!
2 / 13
The court denied access to documents on Ripple’s XRP transactions and post-dating the lawsuit filing. It just looks like the settlement is coming.
3 / 13
Regarding: Whether XRP is a security or not, the judge previously expressed, “My understanding about XRP is that not only does it have a currency value but it has a utility…
4 / 13
Ripple made a fair notice defense, which the SEC unsuccessfully moved to strike. The defense is structured around the US SEC actions and not by its own conduct.
5 / 13
The discovery phase of the lawsuit versus the Ripple Labs is continuing as Magistrate Judge Sarah Netburn refused in part, the US Securities and Exchange Commission’s (SEC)…
6 / 13
Besides refusing the documents related to Ripple’s XRP transactions, the court has also denied the SEC’s request for documents related to Ripple’s lobbying efforts.
7 / 13
SEC’s request to order Ripple to search the records of its General Counsels and Deputy General Counsel on the account of them being “highly burdensome” was also denied.
8 / 13
However, a part of the SEC’s motion has been approved since the court granted the Commission with the right to conduct five additional depositions, including former Ripple…
9 / 13
The Judge extends SEC period to complete discovery. The SEC now has until August 31 to conduct fast discovery, with expert discovery being pushed until October 15.
10 / 13
However, Ripple contends that SEC has not shown good cause to extend the discovery and an extension will unduly prejudice Ripple’s business.
11 / 13
Community Left Wondering: Would this settlement be material? Not certain why everyone thinks a settlement is the best scenario?
12 / 13
Settlement would be the most prudent decision based on this information. Ripple would want to include language that would bar the SEC from renewing applications in the future…
13 / 13
Many believe this will not be settled until April next year, and that anything sooner is a bonus. If Ripple wanted settlement, they would have settled last year.
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