A long-time battle between Ripple and SEC is now finding some light with the nearing summary judgment. The court has also given a judgment on another proposal as the District Court has assessed the letter of redactions issued on July 15, 2022
Nevertheless, the tribunal decided that they were specifically targeted to protect the important objectives. It was mentioned that copies of the SEC’s objection to the proposal must be submitted by each entity.
As per prosecutor Filan, unstamped copies connected to the amici motion should be presented by tomorrow. He stated that to respond to the SEC’s disapproval of their presence, Amici has time until July 25, 2022.
SEC To File Response Tomorrow
Furthermore, Filan claims that tomorrow is the day when SEC has to file its reason for objecting XRP holders to participating in the proceedings. Followed by this there will be a response from John Deaton, the XRP holder’s advocate and this will be by Monday, July 25th. His response will be in favor of XRP holders.
Judge Torres had dismissed the SEC’s argument regarding Deaton’s submission of a response. Following this action, the attorney would get the option to criticize the SEC for adopting a contradictory stance.
Deaton added that the agency limited his ability to respond as he incorrectly labeled the petition. But the attorney for XRP opposed the use of the regulations. The court, meanwhile, suddenly came to an agreement with Deaton.
At the time of publication, Ripple’s native currency XRP is changing hands at $0.37 with a surge 4.4% in the last 24hrs. It is still running 90% below its all-time peak of $3.84, though. The 24-hour transaction volume for XRP has increased by 9% to $1.5 billion.