The very lawsuit of SEC vs Ripple is not new and not something that is hidden by the drapes of any kind; any crypto enthusiast knows well what the lawsuit is about and how it came to be. The Securities and Exchange Commission (SEC) entrenched Ripple (XRP) into this lawsuit on the grounds that the cryptocurrency is a security and needs to be registered to operate and make transactions of any kind.
XRP, on the other hand, has argued multiple times before that it demands SEC to produce the records of them saying it to any notable presence from XRP or that the Ripple needs to register itself on the grounds that it is a security.
Nothing of the sort has been done or said as SEC was clear on the foundation that XRP indeed is a cryptocurrency and nothing else, a document proof so says XRP also exists in the form of a newspaper or a magazine’s manuscript. On the other hand, SEC has turned down all of these allegations, and the matter was submitted to the court; at every big reveal or hearing that brought some action to the case, XRP won at every turn, and the courts have given SEC a tough time. This time is no different as well.
The judge has deemed it fit that XRP lays its hands on the internal trading policies by SEC and has issued the order for doing so to the SEC. On the other hand, SEC tried to fall onto many tactics that the regulatory agency knows to dismiss this request by saying that the internal trade policies of the employees are irrelevant to the case, but it is a Judge’s order, and it would be seen to completion.
On the other hand, Ripple is of the stance that it is important to see the distinction that the regulatory giant, SEC, has bridged between XRP and other cryptocurrencies. The mere revelation that XRP demands is the margin of error or not being able to meet a certain requirement on the basis of which it was cast from the realms of being called or treated as a cryptocurrency.