After a meet-and-confer on April 1, Ripple and the SEC have agreed to partially redact some of Ripple’s email exchanges.
The Ripple crypto-payment company won a partial winnings in their ongoing lawsuit against the United States Securities and Exchange Commission (SEC) in an attempt to keep private e-mail communications out of public attention.
The lawsuit filed in December with Ripple alleges that Ripple raised $1.3 billion by selling XRP to ongoing securities offerings that are not registered. Such as the XRP central bank functions, Ripple, a payments company established by XRP creators Chris Larsen and Brad Garlinghouse. When the coin crashes, Ripple sells some of its 55 million XRP.
On 31 March, Ripple’s request for temporary screening four documents was granted by a New York judge and Ripple and the SCE had ordered that the drafting be agreed on by 2 April. Ripple’s lawyers succeeded in persuading the judge in two e-mail exchanges to grant writings.
The first draft is an email from Brad Garlinghouse, CEO of Ripple, to a non-profit organization about Rippleworks. Secondly, the public perception of XRP and Ripple’s control over it is debated between anonymous parties.
According to Ripple’s counsel Andrew Ceresney, Ripple has not come to an agreement on the other two documents. The SEC does not want Ripple to contain an e-mail exchange containing personal financial information from co-founder Chris Larsen, nor does it want to communicate its strategy to private investors.
The lawyers of Ripple obviously still want it to be written. ‘Four documents,’ Ceresney said yesterday in the letter to the Court, “are discovery documents filed with the Court in relation to the discovery dispute,’ and thus not judicial documents that do not qualify for the presumption of public access.”
XRP, the cryptocurrency of Ripple, has not stopped the court case in the course of the present bull running. As of yesterday XRP had reached its market cap of $27.9 billion and became the 7th largest cryptocurrency. The price of XRP has increased by about 170%, currently in value of $0.636.178, since the start of the year, above the previous lawsuit.