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Ripple (XRP) vs SEC case: A fire still not extinguished!

mon 15 August 2022 ▪ 19:00 ▪

5
min reading – per
Mikaia ANDRIAMAHAZOARIMANANA

It was believed that the case between Ripple and the Securities and Exchange Commission was closed. And yet, there is movement on the side of the US DoJ. Indeed, Judge Sarah Netburn has just approved the request to obtain seven video recordings of the public remarks of SEC officials.

New twist in the Ripple (XRP) vs SEC case

Ripple vs. SEC, the discord videos?

The continuation of events concerning this Ripple vs SEC case no longer plays in favor of the American regulator, apparently. Because Judge Sarah Netburn has just granted the green light to serve subpoenas from two video sharing platforms, all third parties, in order to authenticate 7 videos of public remarks by agency officials.

This decision follows request issued by the defendants of Ripple on the day of August 3. It acted as a response to an attempt by the SEC to reopen the discovery procedure and a request for a waiver of authenticity. So many actions that will complement his approach of issuing several subpoenas in order to obtain video material. If successful, the SEC will have enough to justify its own claims.

Defense attorney James K. Filan, tweeted several details on this on August 4th :

« #XRPCommunity #SECGov v. #Ripple #XRP Ripple The defendants are seeking permission to serve third-party subpoenas to authenticate videos of public remarks by 7 SEC officials in connection with the previous FRG. The SEC does not consent and seeks to reopen the discovery. »

Just today, the same litigant pointed out that :

« In a text order, Judge Netburn granted Ripple’s defenders’ motion to serve two subpoenas to authenticate the videos of the public remarks of seven SEC officials and ignored the SEC’s assertion that the defendants were trying to reopen the discovery of the facts. »

Basically, Ripple won its case in court.

DRY, in nice sheets?

You may be aware that the U.S. Securities and Exchange Commission has changed its tone lately. Considering his decision to investigate about forty American cryptocurrency exchanges, it is very likely that other opponents will be added to his list in the legal field.

However, if we take into account this case between him and Ripple, it seems that Niké, the goddess of victory, is not acting in his favor. Observers have also concluded a Ripple release with their heads held high to believe the latest twists and turns.

In this story of video authentication, made complex by a request to reopen the discovery by the SEC, the American agency has found nothing better than this replica :

« The complainant respectfully does not take a position on the defendants’ motion to reopen the discovery of the facts in order to serve subpoenas on third parties in order to obtain video recordings for authentication. »

Fortunately, in this 1-and-a-half-year-old story, Ripple was able to continue its journey. Indeed, the company has been able to expand to other corners of the planet, especially in Asia, and recently, we have heard that it could acquire the shares of the unfortunate Celsius protocol.

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

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