US Judge Orders Both SEC and Ripple to Hold a Discovery Conference in a fresh Twist in the Lawsuit against XRP
March 28, 2021 4:28 PM
The presiding judge on the U.S. SEC lawsuit against Ripple has authorized both parties to hold a telephonic discovery conference set to hold Tuesday, April 6, 2021.
Sarah Netburn's order directs the concerned parties to discuss a motion that was filed by Lawyers representing Ripple in the lawsuits against the SEC.
The legal representative of the Ripple Labs CEO Brad Garlinghouse and Christain Larsen initiated a "Motion to Compel" on March 15, when they asked Judge Netburn to compel the SEC to produce documents relating to the Securities and Exchange Commission lawsuit against Ripple.
The lawyers argued that the reason they are seeking this court order was due to the regulator's refusal to make available the documents requested. Precisely, the lawyers claim that U.S. regulators had failed to provide a single document related to BTC or Ether, the two digital currencies that are similar to XRP.
Additionally, the lawyers also claimed that the SEC is failing to produce internal documentation relating to the legal status of XRP.
However, the announcement of the Judge's order was welcomed with praise by Ripple supporters on Twitter as they believe the decision will help the fintech firm in the case against the SEC.
One Twitter user wrote:
This is a huge step as finally the internal comms of the SEC News. April 6 will be a day to look forward to. A lot of clarity might come out.
The order invites members of the public which have an interest in listening to the discovery conference to call a number which will be published to the parties before the conference.