Ripple vs. SEC: Court Orders SEC To Rework On Its Responses

Ripple vs. SEC: Court Orders SEC To Rework On Its Responses

ripple vs SEC

The post Ripple vs. SEC: Court Orders SEC To Rework On Its Responses appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The SEC vs. Ripple case has been on for what seems like forever. Though the proceedings look inconsistent, the XRP community is well aware of all the developments that have been going on. The community members have been keenly observing who said what, what the filing was about, and what motions were rejected. 

The motion was filed by prosecutor John Deaton and a group of XRP holders in March 2021. The filing was on a request for their intervention in the case proceedings. In October 2021, the judiciary rejected the appeal, but they gained amici status, allowing them to file friends of the court briefs.

This was followed by John Deaton filing another request in May to permit the filing of an amicus brief in reference to the opinions of SEC expert Patrick Doody. Now, the SEC has come forward to ask the court to cancel the amici status. One of the reasons for such a request from the SEC is that if this status is permitted, there would be a duplication of the defendant’s comments.

Along with the amici status, there was another filing by the defendants to approve the Admission (RFAs) motion. The defendants appealed to the court to order SEC to modify its responses based on these RFAs and question the SEC speakers to cross-check its reliability.

Ripple further claimed that if the SEC says it doesn’t have adequate information to respond, then the agency should compulsorily file the reason for not admitting or denying the claims made.

Does Ripple Have The Upper Hand?

In response to what Ripple said, Judge Sarah Netburn has given her verdict- but in parts. The SEC was ordered to file the modified responses to one of its policies, employee reliefs, and other inquiries.

According to the community member, the Judge is now slightly in favor of Ripple on the Fair Notice Defense front.

There is nothing to do but wait for the subsequent development in order to understand where the case is headed.

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