Hot Development in Ripple Case: Rejection to SEC!

There has been a hot development in the legal war that has been going on for months between Ripple and the US Securities and Exchange Commission (SEC).

Hot development in the Ripple case: Rejection to SEC. There has been a new development in the lawsuit that has been going on between Ripple and the SEC for months. The blockchain giant achieved another important victory against the US Securities and Exchange Commission (SEC). Judge Sarah Netburn rejected the SEC's request to access the company's legal advisory data on the regulatory status of XRP. The decision taken by the judge supported Ripple's fair notice defense, based on the premise that the institution did not warn market participants of the fact that the cryptocurrency is an unregistered security. On the other hand, the judge stated that she did not take any position on whether the defense was understandable and valuable. “The Court takes no stance on whether Ripple's defense is admissible or worthwhile...” XRP price started to rise after this news and gained 3.7 percent in the market. Although the outcome of the securities lawsuit against Ripple is not yet known, the big blow taken by the SEC seems to have turned the situation in favor of XRP.