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Ripple Lawsuit Update: SEC Access Denied

The battle between Ripple and the SEC continues. Judge denies SEC the access to Ripple’s legal advice. What happens now to Ripple Lawsuit?

The Fight Goes on!

The SEC has been in a legal battle with Ripple for quite some time now. Then, certain developments show that everything is in Ripple’s favor.

The latest development shows Magistrate Judge Sarah Netburn rejecting SEC’s request for Ripple. This is “to produce all communications constituting, transmitting, or discussing any legal advice Ripple sought or received as to whether its offers and sales of XRP were or would be subject to federal securities laws.”

This development seems to make Ripple’s fair notice defense stronger. Just a month ago, the SEC requested to the court to strike the “fair notice” defense from the Ripple case. Calling it “legally improper”. Ripple appealed claiming that SEC has failed to warn them about XRP being an unregistered security. Along with other market participants.

SEC Attorney considers Retirement amidst Ripple Lawsuit

A report from only a few days ago claims that Dugan Bliss, one of the SEC’s attorneys, wished to withdraw from the case, leaving the SEC for good.

If they allow Dugan Bliss’ request, the case will then go on and the SEC will be represented by Jorge G. Tenreiro, Daphna A. Waxman, Jon A. Daniels and several others. The head of the operation is SEC Attorney Preethi Krishnamurthy.

Last April, Dugan Bliss said that the SEC had not yet taken an official position on ETH either, as far as he is aware.

“So I want to make clear that this is my understanding of the current situation and I don’t want to be overly technical, but the SEC, itself, my understanding, it has not taken an official position. There is no action that it took to say Bitcoin is not a security, Ether is not a security.”

Dugan Bliss
Ripple lawsuit

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