Regulation-by-enforcement problematic, Commissioner says
SEC maybe warming up to safe harbors for crypto
The Securities and Exchange Commission has lost its fight to keep Ripple Labs LLC from discovering internal agency communications related to a 2018 speech by then-Director of the Division of Corporation Finance William Hinman.
It lost some face, too, after the judge overseeing the case scolded the agency for litigation tactics she said unnecessarily complicated the attorney-client privilege question at the heart of the dispute.
Judge Sarah Netburn, for the US District Court for the Southern District of New York, called the agency out for argumentative “hypocrisy,” writing that its vacillating arguments suggested the SEC was “adopting its litigation positions to further its desired goal, and not out of a faithful allegiance to the law.”
Read more: Ripple Labs Wins Access to SEC Documents in XRP Crypto Fight
The SEC’s lawsuit alleges that Ripple, its CEO Brad Garlinghouse, and its...
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