At a time when the entire crypto world was expecting summary judgment in the ongoing Ripple v. SEC lawsuit, lawyers for the blockchain payments firm took another preemptive step. Defense attorney James K. Filan states that the Ripple defendants have filed a Letter Notice of Additional Authorities to support their fair notice defense.
According to the information provided, the new filing was based on the recently resolved legal dispute between the SEC and bankrupt cryptocurrency lender Voyager Digital. The court rejected the regulator’s arguments to bar sales of the business to Binance.US.
While the SEC’s assertions that XRP is a security are only verbal and lack adequate justifications, the Ripple attorneys assert that most of their defense depends on the judge’s reasoning.
Page 25 is amazing. pic.twitter.com/GoTwGz7wVm
— David “JoelKatz” Schwartz (@JoelKatz) March 20, 2023
The Ripple v. SEC case has developed to the point where neither the prosecution nor the defendants have much power to sway the judge’s decision. A new set of possible outcomes have emerged in light of the defense lawyers’ most recent submission, with pro-crypto attorney John Deaton restating his conviction that Ripple will ultimately prevail in the litigation.
Since December 2020, Ripple v. SEC has been taking forever. Many parties will sigh with relief if the case is successful, especially Ripple, the XRP community, and the entire crypto ecosystem.
Read more:
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