Ripple vs. SEC: Latest Updates on the Legal Battle 🚨
Welcome to the latest update on the ongoing legal battle between Ripple and the SEC. The cryptocurrency community is eagerly awaiting the final resolution of this high-stakes courtroom standoff that has captured the attention of many. Here’s what you need to know about the recent developments in the case:
Ripple vs. SEC: The SEC’s Response to Ripple’s Request
Recently, Ripple filed a motion to seal certain documents related to the SEC’s motion for judgment and remedies. However, the SEC has responded by stating that this information should be made public. According to a document shared by James K. Filan, a defense attorney and former federal prosecutor, the SEC argues that the financial and securities sales information should not be concealed as it constitutes ‘judicial documents.’
- The SEC believes that specific financial figures and terms used to calculate remedy requests should be disclosed to the public.
- Legal expert Bill Morgan highlighted that none of the XRP sales to institutions with discounts were on-demand liquidity (ODL) contracts.
Latest News on SEC vs. Ripple
Earlier, Ripple sought to seal or redact confidential information, including financial terms of contractual agreements with third-party business partners. The company’s CFO, Jonathan Bilich, supported this motion. On the other hand, the SEC submitted a remedies reply brief in early May, emphasizing the need for injunctions and accusing Ripple of planning to issue a new unregistered crypto asset, possibly a stablecoin.
- Ripple’s XRP token was trading at $0.54, marking a 5.76% gain on the day and a 7.27% increase over the week.
Hot Take: What Lies Ahead in the Ripple-SEC Saga 🔥
Keep an eye on the ongoing legal battle between Ripple and the SEC as the case unfolds. The cryptocurrency community is closely following the developments in this courtroom showdown that could have significant implications for the industry. Stay tuned for more updates on this story!
By
By
By
