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In a recently written letter, Dugan Bliss – senior litigation adviser at the US Securities and Exchange Commission – is asking Judge Sarah Netburn not to force the agency to present documents relating to Bitcoin and Ethereum:
Such a request is inappropriate and should be rejected
As reported, Ripple has previously filed a letter to the court to compel the SEC to release the aforementioned documents, claiming that XRP is holding “evidence of the potential to justify”.
Shortly thereafter, the SEC said:
XRP and Ripple related documents – e-mail communications between relevant senior employees at the SEC and third parties, as well as third-party products in asset cases other digital – not related to any claim or justification, but the SEC agrees to provide them with to reach compromise.
However, this was not enough to reach a compromise with Ripple so the SEC subsequently sent the aforementioned letter.
Although Ripple’s lawyers are trying to convince the court that XRP is no different from Bitcoin and Ether, the SEC argues that the defendants’ claims make it clear that these digital assets are different when it comes to speaking. to securities law:
In short, the comparison with Bitcoin and Ether is not an obvious measure of recognition. Therefore, the discovery involving Bitcoin and Ether may not be related to the issues in this case or at least not proportional to the needs of the case.
Furthermore, the SEC pointed out that both Telegram and Kik are trying to argue that their respective tokens will function as a currency, but their argument has been dismissed by the court.
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