A recent court judgment further weakens a key defense made by technology firm Ripple Labs in its ongoing legal battle with the United States Securities and Exchange Commission (SEC), the regulator has claimed to a federal judge.
In an April 11 letter to U.S. District Judge Analisa Torres — who is overseeing the SEC vs. Ripple Labs case — the SEC highlighted the judge’s opinion in a separate enforcement action it won against investment advisory firm Commonwealth Equity Services.