{"id":220669,"date":"2021-04-07T03:34:34","date_gmt":"2021-04-07T00:34:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ripple-wins-access-to-sec-discussions-on-defining-crypto-assets-as-securities\/"},"modified":"2021-04-07T03:34:34","modified_gmt":"2021-04-07T00:34:34","slug":"ripple-wins-access-to-sec-discussions-on-defining-crypto-assets-as-securities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ripple-wins-access-to-sec-discussions-on-defining-crypto-assets-as-securities\/","title":{"rendered":"# Ripple wins access to SEC discussions on defining crypto assets as securities"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26b2d9bace2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26b2d9bace2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ripple-wins-access-to-sec-discussions-on-defining-crypto-assets-as-securities\/#Outside_of_court\" >Outside of court<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ripple wins access to SEC discussions on defining crypto assets as securities <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvY2E1YzE4ZmEtNzYzYy00ODM2LWJiYTQtOGJjNTkzYTJhN2I5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Ripple Labs has been granted access to U.S. Securities and Exchange Commission documents \u201cexpressing the agency\u2019s interpretation or views\u201d on the subject of crypto assets.<\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.law360.com\/articles\/1372735\/ripple-labs-wins-access-to-sec-internal-crypto-discussions\" data-amp=\"https:\/\/www-law360-com.cdn.ampproject.org\/c\/s\/www.law360.com\/amp\/articles\/1372735\">Law360<\/a>, U.S. Magistrate Judge Sarah Netburn granted the defendants\u2019 motion \u201cin large part,\u201d determining that SEC minutes or memos concerning crypto are likely discoverable. Netburn asserted staff-to-staff email communications do not need to be produced.<\/p>\n<p>Netburn also allowed for the SEC and Ripple to raise disputes with the ruling.<\/p>\n<p>In December, the SEC filed a lawsuit alleging Ripple Labs, its CEO Brad Garlinghouse, and chairman Christian Larsen, raised $1.38 billion through an unlicensed security offering in August 2013. <\/p>\n<p>Ripple has challenged the SEC\u2019s suit, claiming that XRP is akin to Bitcoin or Ethereum \u2014 both of which have been classified as commodities by the SEC, in addition to criticizing the eight years taken for the agency to file its complaint against Ripple.<\/p>\n<p>Law360 reports that Garlinghouse\u2019s counsel, Matthew Solomon, believes it may be \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> over\u201d for the SEC\u2019s suit should they find evidence the regulator has deemed XRP akin to BTC or Ether, noting the SEC\u2019s regulatory purview does not extend beyond securities. <\/p>\n<p>With the SEC having taken eight years to file its complaint against Ripple, the firm\u2019s lawyers also believe they can undermine the SEC\u2019s claims should they be able to produce documentation showing contradictory determinations as to the regulator\u2019s classification of XRP.<\/p>\n<p>\u201cWe need this discovery to defend ourselves,\u201d Solomon stated.<\/p>\n<p>However, SEC counsel Dugan Bliss has criticized the defendants for seeking to put the commission \u201con trial\u201d by scrutinizing its internal deliberations, rather than defending its allegedly illicit actions, stating:<\/p>\n<blockquote><p>\u201cThe actions of the promoter are what need to be the focus here.\u201d<\/p><\/blockquote>\n<p>During the proceedings, Judge Netburn noted significant public interest in the hearing, with more than 500 individuals having dialed in through a public phone number to observe the case. The judge also warned one individual for rebroadcasting audio from the hearing in violation of New York regulations.<\/p>\n<p>\u201cWhoever is engaging in this conduct may be subject to criminal sanctions,\u201d the judge said.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Outside_of_court\"><\/span>Outside of court<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On April 6, attorney Jeremy Hogan, who is observing the case with interest, took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> to share a 2016 cease-and-desist <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dFAtp8kiqa?amp=1\">order<\/a> aimed at a then-advisor to Ripple Labs that described the firm as a \u201cdigital currency company.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">(1\/2) I am prepping for the SEC v. Ripple hearing and did a deep-dive into some docs, and LOOK WHAT I FOUND. It&#8217;s the SEC stating in a public document &#8220;&#8230;the digital CURRENCY company called Ripple Labs.&#8221; (top of pg.3)<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dFAtp8kiqa\">https:\/\/t.co\/dFAtp8kiqa<\/a><\/p>\n<p>\u2014 Jeremy Hogan (@attorneyjeremy) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/attorneyjeremy\/status\/1379400447669190659?ref_src=twsrc%5Etfw\">April 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cThe SEC must now explain to the Court how a \u2018digital currency\u2019 transformed to a \u2018digital security,\u2019\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/attorneyjeremy\/status\/1379400448688463873\">added<\/a> Hogan.<\/p>\n<p>The price of XRP has been on a tear this month despite the SEC\u2019s complaint, with the token up nearly 100% since the start of April.\u00a0 XRP is up roughly 20% over the past 24 hours and is currently trading for $1.08.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ripple-wins-access-to-sec-discussions-on-defining-crypto-assets-as-securities\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ripple wins access to SEC discussions on defining crypto assets as securities &#8221; Ripple Labs has been granted access to U.S. Securities and Exchange Commission documents \u201cexpressing the agency\u2019s interpretation or views\u201d on the subject of crypto assets. According to Law360, U.S. Magistrate Judge Sarah Netburn granted the defendants\u2019 motion \u201cin large part,\u201d determining&#8230;<\/p>\n","protected":false},"author":1,"featured_media":220670,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvY2E1YzE4ZmEtNzYzYy00ODM2LWJiYTQtOGJjNTkzYTJhN2I5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74898,75557,70934],"class_list":["post-220669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-sec","tag-xrp","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/220669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=220669"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/220669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/220670"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=220669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=220669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=220669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}