The ongoing dispute between the regulatory watchdog (SEC) and San Francisco-based fintech company Ripple continues to make headlines. The trial that began at the end of 2020 has not hit the wall yet. But could the last dispatch finally see the end of the game for this eternal saga?
In a recent development, on September 8, plaintiff (SEC) and defendant (Ripple) filed a joint bid. marked Written by James Phelan, Celebrity Lawyer. This would govern seal issues related to upcoming summary judgment proposals to be made in this case.
#XRPCommunity #SECGov Fifth. #ripple #XRP The parties have submitted a joint application for the settlement of seal issues relating to the forthcoming summary judgment proposals to be submitted in this case. pic.twitter.com/LHatnIskTx
– James K. Phelan 🇺🇸🇮🇪 111k (Beware of Scammers) (FilanLaw) September 8, 2022
Thus both parties sought permission from the court, and thus Judge Torres for himself. According to this application Believer Full access to the information of the parties to the XRP transaction.
“Under the joint proposal, the parties will also be required to submit public revised copies of all documents within 21 days of court decisions on blanket seal requests.”
However, not everyone saw this cooperation as fruitful. Stuart Aldrotti, general counsel at Ripple, has criticized the SEC’s efforts to regulate cryptocurrency. Be it in the past or now – details of the Securities and Exchange Commission and its efforts to regulate cryptocurrency. he is QuoteAnd the
“Make no mistake, this is a grab for political power (it’s not the law and it’s not good policy) and it’s at your expense.”
But it is not the only lawsuit to be considered, many of these disputes still do not see the end; I’m still waiting. For example, requests to exclude expert testimony (“Daubert” appeals) were filed with a stamp on July 12. But disputes over sealing petitions, expert reports, and transcripts of testimony remained unresolved.
According to the schedule update (as of September 6), James Phelan addedAnd the
#XRPCommunity #SECGov Fifth. #ripple #XRP Scheduling update on September 6, 2022. pic.twitter.com/GzY6KPATJU
– James K. Phelan 🇺🇸🇮🇪 111k (Beware of Scammers) (FilanLaw) September 6, 2022
But when will all this end? This is exactly the most common question that has remained unanswered for quite some time now. But this time, attorney Jeremy Hogan, an XRP defender and US legal advisor, It is considered
“Circuit September 19th as the day we’ll see (most) party cards! Ripple against SEC. It excites me (I’m such a weirdo).”
But again, whether this is true or not – this is a separate discussion all together.
Yes, the trial has seen many exciting updates/suits over the years as each side has taken turns criticizing the other. But at what cost?
John Deaton, prominent figure and founder of CryptoLaw claimed The SEC’s action against XRP has cost investors about $15 billion in losses. This means that XRP investors lost money when the SEC, instead of limiting its fees to Ripple, decided to classify all XRP as a security.
Turning to a positive scenario, XRP felt increasingly safe against it on CoinMarketCap. At the time of writing, XRP is up over 6% as it trades just under $0.35.
Needless to say, you have a long way to go – get ready!!!