The legal battle between US regulators and Ripple has been quiet for a few days now. However, there has been an increase in activity recently.
Trusted attorney James K. Phelan reported that the Securities and Exchange Commission filed an application recently. In this latest development, the Securities and Exchange Commission is seeking to seal portions of the parties’ responses to the exclusion proposals.
– James K. Phelan 🇺🇸🇮🇪 111k (Beware of Scammers) (FilanLaw) September 9, 2022
With neither side ready to back down, the infamous crypto battle continues to rage.
show must go on
The Securities and Exchange Commission has its sights set on the response letter dated August 30, and is trying to censor parts of it. The summary contains information identifying expert witnesses at the SEC, which could have non-mitigating consequences for those involved.
These revisions are appropriate for the reasons set forth in the Securities and Exchange Commission’s July 22 proposal to close out certain parts of the disqualification proposals. The court had previously approved a similar request to revise the names of two experts in the Securities and Exchange Commission. The court also held that such a revision was “narrowly designed to serve the security interests of witnesses.”
The defendants (Ripple) challenged the Securities and Exchange Commission’s shutdown order on July 22. However, the former did not provide a response to the Securities and Exchange Commission’s proposal to seal the response to the exclusion movement.
The verdict is now in the hands of Judge Torres, with the battle raging for another month. Recently, the two parties submitted a joint proposal that will settle the seal issues related to the upcoming summary judgment proposals to be presented in this case.
“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.”
There seems to be nothing immediate in this case now that the battle is raging. The last movement is a vivid example of this.