Ripple Loses Bid For SEC Staff's Crypto Trading Records

By Dean Seal (September 21, 2021, 9:12 PM EDT) — A New York federal magistrate judge declined Tuesday to make the U.S. Securities and Exchange Commission turn over records related to its employees’ personal cryptocurrency transactions as part of discovery in the agency’s legal battle with Ripple Labs Inc.

U.S. Magistrate Judge Sarah Netburn ruled that Ripple, which has prevailed more frequently than the regulator in their various discovery disputes, hadn’t shown that the SEC’s preclearance decisions about individual employees’ trading in bitcoin, ether and XRP “bear on the issues in this case.”

Ripple had argued that the individual preclearance decisions made by the SEC’s ethics counsel would expose the lack…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Credit: Source link