Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC). 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.
Ripple Wins Discovery From SEC, Gaining Access to the Commission’s Internal Crypto Records
A telephonic discovery conference was held Tuesday for the case against Ripple Labs brought by the U.S. SEC. Ripple Labs reportedly “won discovery” from the SEC.
U.S. Magistrate Judge Sarah Netburn said, “I’m going to grant in large part the defendants’ motion,” noting that it was a “high-stakes” discovery win. 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 judge clarified that…