As for Chris Larsen’s chainmail, his counterpart, Carlos, is a Portuguese national residing in Portugal – known to be one of the world’s favorite crypto tax havens and generally a top tax haven for expats.

The XRP lawsuit is heating up again. Judge Analisa Torres declined to seal the evidence against Ripple in a move that reiterates the public interest of the case.

Favoring public disclosure, the magistrate ordered the release of three exhibits and two in particular caught the attention of the community watching the case unfold.

Exhibit 179-4 shows individual defendant and CEO of Ripple, Brad Garlinghouse, briefing employees on the expectations of XRP holders regarding the price of the digital asset and Ripple’s decision to freeze 55 billion XRP in escrow to address to skepticism.

Exhibit 179-5 shows individual defendant and former co-founder of Ripple Chris Larsen exchanging emails with an XRP holder regarding XRP’s price dynamics.

“The strategy of focusing on connecting banks serves both emerging trends – the more banks connect through Ripple Connect and ILP, the more we should see demand for XRP as an asset to reduce liquidity costs.”

The Securities and Exchange Commission will likely use the two coins to claim that Ripple sold XRP as a security, making it an unregistered securities offering.

Ripple’s lawyer, however, can dispute that Brad Garlinghouse’s statements were directed at employees, not (potential) XRP holders.

As for Chris Larsen’s email chain, his counterpart, Carlos, is a Portuguese national residing in Portugal – known to be one of the world’s favorite crypto tax havens and generally one of the best expat tax havens.

Sales of XRP to foreign nationals outside of the United States fall outside the scope of the Securities and Exchange Commission as they do not apply to the Securities Act of 1933.

So even if Larsen sold the digital asset as an investment contract, that evidence would likely be tainted in the eyes of the judge.

Lawyer Jeremy Hogan analyzed the two coins a few days ago and deemed them weak evidence to support the claim that Ripple sold and traded XRP as an investment contract.

“This will be evidence from the SEC that XRP buyers were relying on Ripple to drive up the price of XRP. I just hope for the SEC that they have more and better evidence than those two documents,” Hogan quipped.

The SEC lawsuit against Ripple appears to be getting back on track after several weeks of near-despair in the community following the case.

Although the SEC has been granted another extension, this time to prepare a motion for reconsideration on the issue of deliberative privilege, Judge Torres is getting her hands dirty and is expected to rule on three landmark motions very soon, including the long-awaited and key decide whether Ripple’s fair notice defense survives.