The ongoing legal case involving the US Securities and Exchange Commission (SEC) and Ripple Labs has had a recent development, highlighting the intensified nature of the conflict between the parties.
In a recent move, Ripple filed a response letter seeking to further support its own motion related to sealing data on the SEC document for adjudication and remedies, according to documents released by attorney James K. Filan, on May 29th.
Ripple has filed a response letter in further support of its Motion to Seal documents in connection with SEC. Request for Judgment and Remedies,” wrote the legal expert.
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a reply letter in further support of its Motion to Seal documents in connection with the @SECGov’s Motion for Judgment and Remedies. pic.twitter.com/NeuFZII1m8
— James K. Filan (@FilanLaw) May 29, 2024
Initially in the process, the company sought to seal and redact some evidence and financial documents requested by the regulator, however, the SEC objected to Ripple’s measure.
“The Court should deny Ripple’s request to withhold financial and securities sales information because such information constitutes “judicial documents” as it is at the heart of the arguments the parties presented in support of their motion for relief and could, therefore tend to influence the court’s remedy decision,” the SEC said in early May.
SEC Delivers Decisive Response in Ripple XRP Case, Signals Crucial Moment
In the current cryptocurrency landscape, the legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) reaches a new height with the SEC delivering its latest response in the remedial phase of the case against XRP. This step marks a crucial development after years of litigation.
The SEC, in its latest statement, vigorously refuted Ripple’s defense that claimed the absence of “generalized uncertainty” about the legal status of XRP, even after court decisions unfavorable to this “fair warning” thesis. The commission argues that regardless of Ripple’s past compliance since the process began in 2020, there is no guarantee that future violations will be avoided.
According to recently filed documents, Ripple has attempted to lessen its liability by highlighting cooperation with the SEC since the initial issuance of XRP in 2013.
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Source: https://portalcripto.com.br/atualizacao-no-processo-ripple-vs-sec-detalhes/
