SEC vs Ripple lawsuit is in the process. On May 30, another decision on the case was published, where the US Magistrate Judge Sarah Netburn announced denying the SEC's request to access Ripple Lab's legal counsel records.
Per the request introduced on May 7, the SEC sought permission to obtain all conversations of any legal advice that Ripple pursued or got about its offers and trades of XRP and if the cryptocurrency were or would be a matter to federal securities laws.In an Amended answer, Ripple denied providing the papers.
The court paper states that the SEC's motion is denied. There are several reasons for that, the judge noted. One of them is attorney-client privilege, which defends a customer's right to keep private confidential reports between the client and the attorney. XRP ranks sixth with a market cap of over $46.6 billion. The price of the coin is about 15% up in the previous 24 hours.