{"id":3011,"date":"2021-04-17T15:37:37","date_gmt":"2021-04-17T14:37:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3011"},"modified":"2021-04-17T15:37:40","modified_gmt":"2021-04-17T14:37:40","slug":"xrp-and-us-securities-and-exchange-commission-case-hits-new-height","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-and-us-securities-and-exchange-commission-case-hits-new-height\/","title":{"rendered":"XRP and US Securities and Exchange Commission case hits new height."},"content":{"rendered":"\n

The present case between XRP and US Securities and Exchange Commission<\/a> has taken another dimension. Recently, Magistrate Judge Sarah Netburn granted Ripple\u2019s<\/a> motion to keep the records of its current and former chief executives private.<\/h2>\n\n\n\n
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The present case between XRP and US Securities and Exchange Commission has taken another dimension<\/figcaption><\/figure>\n\n\n\n

Interestingly, the Securities and Exchange Commission\u2019s (SEC) lawsuit against Ripple Labs, and executives Brad Garlinghouse and Chris Larsen seem to have taken an unusual turn. According to CryptoLaw, the SEC has allegedly violated US civil court rules by issuing multiple MOUs in the case, it was noted that<\/p>\n\n\n\n

Ripplelabs, defendant, sent Judge Netburn a letter of discovery concerning the violation. According to this study, the SEC supposedly sought discoveries on Ripple from the FCA. It violated the Hague Convention as ordered by Judge Sarah Netburn of the South District of New York.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Ripple Labs' legal counsel introduced this document and said the SEC had at least 11 MOUs requesting documents from ‘outside companies.' The document The document stated that several of these companies were business associates of the payment company and had around 10 foreign regulators. As the defense puts it,<\/p>\n\n\n\n

<\/p>\n\n\n\n

\u201cNot\u00a0 only\u00a0 is\u00a0 the\u00a0 use\u00a0 of\u00a0 pre-litigation\u00a0 investigative\u00a0 tools\u00a0 prejudicial\u00a0 to Defendants\u00a0 and\u00a0 the\u00a0 recipients\u00a0 of\u00a0 such\u00a0 requests,\u00a0 as described below, it also prevents this Court from\u00a0 exercising\u00a0 its\u00a0 lawful\u00a0 discretion\u00a0 regarding\u00a0 the\u00a0 scope of permissible foreign discover.\u201d<\/strong><\/p><\/blockquote>\n\n\n\n

The defense postponed the procedure as “improper,” which was part of a “intimidation” tactics, to allegedly limit the ability of Ripple to operate outside America.<\/p>\n\n\n\n

Many leading officials weighed the SEC's “unfair” move and shared the deception of Twitter.<\/p>\n\n\n\n

Following this finding, Jeremy Hogan said that Ripple and its partners were subjected to indirect “regulatory pressure.” He tweeted the following:<\/p>\n","protected":false},"excerpt":{"rendered":"

The present case between XRP and US Securities and Exchange Commission has taken another dimension. Recently, Magistrate Judge Sarah Netburn granted Ripple\u2019s motion to keep the records of its current and former chief executives private. Interestingly, the Securities and Exchange Commission\u2019s (SEC) lawsuit against Ripple Labs, and executives Brad Garlinghouse and Chris Larsen seem to […]<\/p>\n","protected":false},"author":63,"featured_media":2919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[142],"class_list":["post-3011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripples-news","tag-ripple"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/04\/xrr.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3011"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/2919"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}