Ripple vs SEC: Ripple’s CEO and Co-founder Granted Permission to Seek International Legal Assistance

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Judge Netburn Ordered SEC to Produce Internal Guidelines Govern the SEC’s employees Digital Assets and Cryptocurrency Activities
Judge Netburn Ordered SEC to Produce Internal Guidelines Govern the SEC’s employees Digital Assets and Cryptocurrency Activities

Well-known XRP community member and attorney James K. Filan, who has been following the Ripple vs SEC case, shared new information about the lawsuit with the community.

According to his tweet, the court has granted permission to Brad Garlinghouse (CEO of Ripple) and Christopher Larsen (co-founder of Ripple) requests for international legal assistance.

Ripple Scores Another Victory Over the SEC

Filan often shares legal news with the XRP community and explains that the aforementioned letter is also known as a request, which is used to formally seek legal assistance from a court in another country.

These letters were sent by the court, Filan continued to post on Twitter and forwarded them to Cleary Gottlieb Steen & Hamilton LLP (a law firm that defends Ripple, Brad Garlinghouse and Christopher Larsen).

These requests are addressed to the central authorities of the United Kingdom of Great Britain and Northern Ireland, the Cayman Islands, the British Virgin Islands, Hong Kong, Singapore, Seychelles, South Korea and Malta.

The purpose of These Letters

James Filan did not respond to requests from some XRP fans to explain the purpose of these investigative mandates. However, Twitter user @kmag00ster assumed that Ripple was gathering evidence to reduce potential damage if the court rules in favour of the SEC.

“The SEC only has jurisdiction over sales in the USA, so they [Ripple] are gathering data, which proves that the SEC has no jurisdiction over a big part of the $1.3 billion.”

The $1.3 billion mentioned by the commenter is the amount Ripple, Garlinghouse and Larsen have made from selling XRP to financial institutions since 2012.

Changes in the SEC and Ripple Legal Team

In a report, a new lawyer joined Ripple’s legal team earlier this month, Nicole Tatz of Cleary Gottlieb Steen & Hamilton LLP, and will defend CEO Garlinghouse’s interests in court.

According to the company’s website, the new lawyers are focused on lawsuit and law enforcement.

At the same time, Dugan Bliss, an attorney with the US Securities and Exchange Commission, decided to leave the agency after more than a decade.

He is currently waiting for the court’s approval to withdraw the proceedings against Ripple that began in late December 2020.