SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference

- Advertisement -

[NEWS BLOG]: SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference

In a fresh twist to the Securities and Exchange Commission (SEC)’s fight against Ripple Labs, US judge Sarah Netburn has directed both parties to hold “a telephonic discovery conference on Tuesday, April 6, 2021.” The judge’s order directs the parties to discuss a motion to compel filed by Ripple’s lawyers.

"Motion to Compel"

On March 15, lawyers representing current Ripple Labs CEO Brad Garlinghouse and Christian Larsen had asked Judge Netburn to compel the SEC to produce documents relating to the regulator’s lawsuit against the fintech firm.

In their motion, Ripple’s lawyers argued that seeking this court order had been necessitated by the regulator’s refusal to produce the requested documents. Specifically, the lawyers allege that the SEC had failed to provide “a single document concerning bitcoin or ether–two virtual currencies that are closely analogous to XRP.”

Furthermore, in their motion, the lawyers also allege that the SEC is failing to produce internal documentation that relates to XRP’s legal status. The lawyers are also seeking “any documents from ten of the nineteen custodians the defendants proposed.”


- Advertisement -

OTHER RELATED NEWS

Bitcoin Plays With USD 9,000, While Virus Fears Weigh on Stocks

Bitcoin (BTC) is once again trading around USD 9,000, while the risk-off sentiment has hit stock markets across the globe hard in recent days.

At pixel time (10:35 UTC), BTC trades at c. USD 9,010 and is up by 4% in the past 24 hours and the past week. Earlier today, the price reached USD 9,100 before dropping to almost USD 8,900 and moving back to USD 9,000.

Also, while the U.S. S&P 500 stock index has sold off about 2.2% over the past three days, the number one cryptocurrency is up by about 8% over the same time period.

Although - read more.

Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Bitcoin’s recent price action comes as a breath of fresh air for crypto traders, which had to deal with BTC flatlining in the $9,000s for around two and a half months. The leading crypto asset is attempting to pass the local highs of $11,500 as this article is being written.

Despite the strength of the breakout, Bitcoin’s macro volatility indicators remain at historically low levels. This may suggest, according to Bitazu Capital’s Mohit Sorout, that BTC has room to rally to the upside as ongoing volatility seems to be favoring bulls.

This latest rally in the crypto market has brought - read more.

Largest Bitcoin ATM Network Coinme Raises New Funding from Ripple’s Xpring

Coinme, which provides kiosks and ATMs for digital currencies, raised $1.5 million in a Series A-1 financing round that included Ripple’s subsidiary Xpring and Blockchain Finance Fund, the company said.

Proceeds from the funding will be used for additional licensing to expand its U.S. and international coverage.

Co-founder and CEO Neil Bergquist told CoinDesk that Coinme is licensed to operate bitcoin ATMs in 29 states and will apply for further state licenses in the near future. As for international markets, Coinme has set its eyes on Europe, Central and South America given the high popularity of cryptocurrencies in these countries, Bergquist - read more.

DROPZ
Made for Fun, Easy to use, Easy to Solve!
Catch Every Dropz!
Contact us

[email protected]