Just a few days after filing a motion to receive access to “obtain international discovery” of records belonging to Binance, US Magistrate Judge Sarah Netburn has approved Ripple’s request. The documents should shed some light on the company’s XRP sales made on the exchange.
The filing reads that Ripple’s executive “seeks foreign discovery on the basis of his good faith belief that [Binance] possesses unique documents and information concerning the case, and specifically, concerning the process by which transactions in XRP allegedly conducted by Mr. Garlinghouse on foreign digital asset trading platforms were conducted.”
“The Supreme Court has held that Section 5 of the Securities Act of 1933, which the SEC alleges Mr. Garlinghouse violated, applies only to domestic sales and offers of securities.”