Ripple (XRP) vs SEC: Court orders SEC to produce documents classifying BTC and ETH as non-security assets

SEC trying to prevent XRP holders from involving in Ripple vs SEC lawsuit

A US Court has complied with Ripple’s request to force the SEC to issue documents explaining why Bitcoin and Ethereum were approved as non-securities.

SEC to Produce a Documentation of BTC and ETH as Non-securities

Leonidas Hadjiloizou, a researcher who frequently exchanges data on Ripple and XRP, tweeted that the Court has complied with Ripple’s request on SEC producing documentation about why they approved Bitcoin and Ethereum as non-securities.

Ripple also insisted that the SEC must provide them with other relevant documents related to the XRP case.

Ripple Labs attorneys, co-founder Chris Larsen and CEO Garlinghouse asked the SEC to produce the above documents.

Date of the Meeting Appointed by the Judge

The U.S. District Court for the Southern Borough of New York announced the date of the discovery meeting at which the defendants’ joint motion will be discussed by telephone.

US District Judge, Sarah Netburn has ruled out that Ripple Labs and the SEC will take part in a discovery conference on the telephone on April 6 (Tuesday) at 2:00 p.m., on which Ripple’s demand about the SEC producing the documents relevant to the XRP case.

Leonidas Hadjiloizou mentioned these documents in his tweets: the documentation regarding Bitcoin and Ethereum as non-securities, internal communications of the SEC regarding the legal status of XRP and documents about ten additional custodians.

When requesting these documents, the Ripple representative insisted that the SEC hold its own evidence, which would prove that the SEC notified the cryptocurrency exchange that XRP was not security.

Previously, it was reported that the Securities and Exchange Commission (SEC) has produced evidence that Chris Larsen’s continues to move XRP despite Its lawsuit against them.

XRP Remains at $0.50

Despite the turmoil in the US Securities and Exchange Commission lawsuit against Ripple, XRP has always had a relatively good market position.

According to data from CoinMarketCap, after a while in the range of $0.44, the token rose to $0.50 on March 20 and to the $0.58 level today. After the SEC took legal action against Ripple Labs, the XRP fell to $0.22 in early January. However, on February 1, it hit a high of $0.6577.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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