Ripple Loses Bid For SEC Staff's Crypto Trading Records

By Dean Seal (September 21, 2021, 9:12 PM EDT) -- A New York federal magistrate judge declined Tuesday to make the U.S. Securities and Exchange Commission turn over records related to its employees' personal cryptocurrency transactions as part of discovery in the agency's legal battle with Ripple Labs Inc.

U.S. Magistrate Judge Sarah Netburn ruled that Ripple, which has prevailed more frequently than the regulator in their various discovery disputes, hadn't shown that the SEC's preclearance decisions about individual employees' trading in bitcoin, ether and XRP "bear on the issues in this case."

Ripple had argued that the individual preclearance decisions made by the SEC's ethics counsel would expose the lack...

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