Ripple demands to know why Ether isn't a security as XRP defense gets desperate.

[Malam90]

Ripple has filed a Freedom of Information Act request with the SEC which targets documents pertaining to Ethereum co-founders Ripple's case before the Securities and Exchange Commission is threatening to have major, well, ripple effects for the industry.

On Jan. 29, Ripple Labs filed its response to the SEC's complaint. Ripple, as it has many times before, argued that XRP is not a security i.e. an investment in Ripple and is therefore not in the SEC's jurisdiction. Ripple is, moreover, prepared to drag the rest of the industry into its fight to make its case.

A Ripple representative told Cointelegraph:

"The SEC has clearly picked two winners and ignored a growing and robust industry that is much larger than Bitcoin and Ether. In addition to discovery we will seek directly in the lawsuit, we filed a Freedom of Information Act (FOIA) request for more information about how the SEC determined the status of Ether as a non-security."  News Source