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RIPPLE SECURITIES PROCEDURE: SMALL VICTORY & CURRENT STATUS

 


SEC: Defendant's motion is not contested

Ripple had previously sought permission from the court to seek to protect the vast amount of data from non-parties, such as Ripple's business partners, crypto participants and their Ripple employees, whose names are included in the Daubert filings.


The SEC's response to Judge Torres regarding Ripple's request for sealing states, among other things:


The SEC will not oppose the defendant's motion. Defendants submit that they believe the standards of sealing for these motions differ from the summary judgment motions.


The statement goes on to say:


The SEC recognizes that the above categories of information may be appropriately sealed for summary judgment and has the sole right to contest similar sealing requests.


Deaton also predicted that much evidence would be revealed that many may not be aware of. This evidence includes, but is not limited to, testimony from former Ripple executives and SEC officials.

James K. Filan 's recent update on the pending motions and the judge's decisions indicate that the remaining months of this year will be extremely critical & complex for this case.


Filan stated that summary judgment motions are expected to be available no later than September 15. Also, between October 18 and November 15, all summary judgment appeals would be filed and answered. Consequently, the judge will then make her final decision after November 15th.


Filan therefore assumes that Judge Torres will make a decision on the applications of the experts and the verdict in summary proceedings by March 31, 2023.

For his part, Deaton is pretty sure the stakes are high, not just for Ripple but for the entire crypto market as well.


If Ripple Labs really succumbs to the SEC, it will set a precedent that the SEC can and probably will apply to a few more cryptocurrencies. The next few months up to the end of the year will be very exciting and trend-setting.

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