The court has granted Ripple’s request to get access to the SEC’s internal trading policies
Ripple’s request to obtain the U.S. Securities and Exchange Commission‘s internal trading policies has been granted by Magistrate Judge Sarah Netburn.
The Court finds that the information sought meets the low bar for relevance, including potentially with respect to the claims against the Individual Defendants
The SEC argued that its employees’ internal trading policies were “irrelevant.”
However, Ripple claimed that it was important to see the distinction the regulatory watchdog had drawn between XRP and other digital assets:
The SEC’s treatment of the trading in digital assets, including any distinctions it draws between XRP and other digital assets, is directly relevant to show the SEC’s own perspective on digital assets, which is relevant both to the applications of the Howey test and Ripple’s fair notice defense.
This prompted accusations of non-compliance from the defendants given that the court has already issued two orders to produce the aforementioned documents.
Earlier this month, the judge also granted the SEC’s request for a 60-day discovery extension in the Ripple case.