September 21: Court denies Ripple’s request for SEC crypto trading disclosuresĪ United States magistrate judge has denied blockchain firm Ripple’s request to gain access to documents detailing the SEC’s crypto trading activity. Furthermore, it would delay the case, which Ripple and token holders have urged for a quick resolution to.
The judge said allowing XRP holders to join the suit would compel the SEC to take an enforcement action against them. District Judge Analisa Torres ruled that XRP token holders cannot act in Ripple’s ongoing lawsuit as defendants. XRP holders had earlier desired to join the SEC vs Ripple case as defendants. LIVE UPDATES October 04: XRP holders can’t join SEC against Ripple case as defendants Who knows, this could be history in the making. This live blog follows the events that shape up this case. This is expected to be a protracted case, and in between now and its conclusion, we expect several twists, turns, and sideshows. Ripple denies the charges, arguing that XRP is a commodity and not a security as the SEC mistakenly alleges.
Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and its two executives – CEO Brad Garlinghouse and Chairman Chris Larsen – for raising more than $1.3 billion in an unregistered sale of the XRP token, which the regulator deems to be a security.
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