US court grants Ripple access to Binance documents in battle against SEC

US court grants Ripple access to Binance documents in battle against SEC

The US court approved Ripple’s request to receive access to Binance documents in its ongoing court case against the SEC.

Through his legal team, Brad Garlinghouse, Ripple’s CEO, has filed a motion in the Southern District of New York to request documents relevant to Binance Holdings Limited’s ongoing legal proceeding against the SEC.

The lawsuit says the Ripple executive “seeks to find out based on his bona fide belief that [Binance] has unique documents and information about the case and specifically about the process by which the XRP transactions allegedly conducted by Mr. Garlinghouse on the digital asset trading platforms were conducted.”

US Judge Sarah Netburn approved the request and the court “will communicate with the council to arrange for the delivery of the letters.”

The SEC’s securities law only applies to domestic offers and sales, which contradicts what the Commission is trying to prove. In contrast, Ripple’s legal team states that “Mr. Garlinghouse’s XRP sales were made mostly on digital asset trading platforms outside the United States.”

“The Supreme Court held that Section 5 of the Securities Act of 1933, which the SEC alleges Garlinghouse violated, applies only to domestic sales and securities offerings.”

SEC Lawsuit Against Ripple

The US Securities and Exchange Commission files a lawsuit against Ripple alleging that Ripple has raised more than $1.3 billion from the sale of XRP with unregistered bonds since 2013.

With cryptopotato information

See too: