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As the holiday season rolls around, both the SEC and Ripple are busy writing to the court. No, not Christmas cards, but letter briefs to supplement their arguments after Judge Sarah Netburn ordered them to do so. Here is what the American regulator...

“Deliberative process privilege” sounds daunting, but this defense just means an agency’s right to protect the privacy of its internal decision-making process – even in the courtroom. In fact, DPP has played a huge role in the SEC’s lawsuit against...