The case between Ripple and the SEC continues to take dramatic turns. Ripple has filed a motion to force the SEC to hand over notes taken during a meeting between the CEO and a former SEC commissioner. However, the SEC has objected to the motion, invoking deliberative process privilege (DPP).
The SEC continues to target Ripple
Ripple’s motion, filed Feb. 10 in Judge Sarah Netburn, is intended to have the SEC hand over the notes made during a 2018 meeting between Brad Garlinghouse and former SEC Commissioner Elad Roisman.
In the motion, Ripple said the new document had been placed in SEC custody a week after the court ruled on documents to be submitted by the SEC.
However, the SEC has continued to list the document as one of its transfer-exempt documents.
Ripple argued that the SEC was unable to do so for several reasons. The motion noted that the meeting was between the SEC and a third party and thus could not be called an internal or attorney/client privileged document.
It also added that the SEC had previously admitted that the meeting was in no way related to an investigation into Ripple.
The meeting was between the SEC and Mr. Garlinghouse, a third party alleged to be violating an attorney/client privilege. And the SEC has admitted that this meeting was not about a potential Ripple investigation, the motion said.
The SEC controversy continues
Community members have dug up why the SEC may be reluctant to hand over the document. According to a tweet from XRP supporter “WKahneman,” Brad Garlinghouse’s recollection of the meeting shows that the SEC commissioner told him that XRP was not a security.
The community member points out that the SEC’s reluctance to hand over the document was deeply disturbing
🤯Great!🤯 Then SEC Commissioner Roisman told Brad Garlinghouse that #XRP was not security, according to Brad’s statement. He was not the chairman, but a sitting commissioner. Also deeply disturbing. pic.twitter.com/hNd1IKMKKk
— WrathofKahneman (@WKahneman) February 11, 2022
The sentiment is shared by many observers who think the SEC is not very strong against Ripple.
Meanwhile, the SEC was also sued by Empower Oversight, a US advocacy group over the Ripple case. Empower says the SEC has failed to comply with several requests it has filed under the Freedom Of Information Act (FOIA) for the SEC to provide documents related to XRP.
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About the author
Olivia’s interests span the entire cryptocurrency and NFT and DeFi industry. She remains as fascinated with cryptocurrencies today as she was in 2017 when she first started reading about them. She is actively looking for the latest Crypto related stories. When she’s not writing, she tends to her pet Chihuahua or prepares vegan recipes. Reach me at [email protected]
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