The request was granted by US Magistrate Judge Sarah Netburn to Garlinghouse’s motion to Obtain international discovery of Binance records.
Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners.
The news comes as a relief to the Ripple community, which claims that the exchange medium can not be considered as a security.
SBI’s report also mentioned NFTs as a use case for the art community, pointing out Beeple’s $69 million record-breaking auction sale in March.
The SEC claimed that owing to the centralized nature of XRP, it automatically becomes a security thus, it is under its scope.
Ripple filed a motion requesting SEC investigate 14 foreign exchanges. The blockchain firm believes that the records held by the international exchanges will prove that its executives did not violate Section 5 of the Securities Act by selling off units of XRP.
The judge mentioned attorney-client privilege as a point for denying the SEC access to the legal records of Ripple.
Garlinghouse’s sentiment is shared by Yoshitaka Kitao, CEO of SBI Holdings Inc. He also said that “after the current lawsuit, Ripple will go public.”
The XRP community and investors worry about what happens to their holdings in case the two parties decide to settle the scores but without taking into account the interests of the XRP token holders.
As Ripple has stated, the surge in sales resulted from the increase in its On-Demand Liquidity (ODL) customers. Besides, it expanded XRP integration within several platforms.
Since Rosie brings a massive experience with understanding the legalities of currency and financial ecosystem,it will immensely help Ripple in its legal battle with the SEC over the alleged status of XRP as securities.
The Ripple CEO has decried the lack of proper crypto regulation as the company fights the SEC about the classification of XRP as a security.
Ripple currently has a lot on the table so the date for the IPO may depend on how soon the lawsuit with the SEC is settled.
As the SEC pushes for foreign regulators to join forces against Ripple, the case is likely to take a different stance before the final ruling.
The price of Dogecoin made 84.7% of its surge in the last 24 hours having recorded $0.28 as its highest price point before falling back to its current price point of $0.24.