Ripple and SEC started filing their replies to the oppositions to the motions for summary judgment under seal
The U.S. Securities and Exchange Commission (SEC) and Ripple have begun submitting their responses to the opposition to the applications for summary judgment in sealed documents.
Ripple v. SEC: Parties Start Filing Replies to Oppositions to Motions for Summary Judgment
The redacted versions of the responses will be made public on December 5, according to James K. Filan, a former federal prosecutor who monitors the case. However, Filan adds they might show up a little earlier.
Before making the newest files public, Ripple and the SEC will meet and discuss redactions. The redacted comments are anticipated to address several amicus filings submitted by Ripple and the SEC’s supporters.
Ripple and the SEC submitted their move for summary judgment in September to avoid a trial. The defendants responded to the plaintiff’s move for summary judgment on October 20. According to Ripple, the SEC couldn’t demonstrate that XRP owners anticipated financial gain from the company’s marketing initiatives.
However, the regulatory body argues that “undisputed evidence” demonstrates that the accused made unregistered securities offers and sales. According to Ripple CEO Brad Garlinghoue, the SEC litigation will be settled in the first half of 2023.
Read more:
- Ripple Ally Filed Status Report, Stating That It Cannot Reach Agreement With SEC Regarding Remedies
- AMM Devnet Is Now Operational, Which Is A Significant Accomplishment For XRPL