In Ripple v. SEC, parties file responses to summary judgement opposition


Ripple and the United States Securities and Exchange Commission have begun submitting under secret their responses to the opposition to the applications for summary judgement.

The redacted copies of the responses will be made accessible on December 5, according to James K. Filan, a former federal prosecutor who follows the case. However, they may come a little earlier, adds Filan.

Ripple and the SEC will meet to discuss redactions prior to the release of the most recent filings.

The redacted answers are also anticipated to include responses to a multitude of amicus filings filed by supporters of both Ripple and the SEC.

In order to avoid a trial, Ripple and the SEC submitted their move for summary judgement in September.

The defendants’ response to the plaintiff’s request for summary judgement was submitted on October 20. Ripple stated that the SEC was unable to demonstrate that XRP holders anticipated benefits from the company’s promotional activities.

However, the regulatory authority argues that “undisputed evidence” demonstrates that the defendants engaged in unregistered sales of securities.

According to U.Today, Brad Garlinghoue, CEO of Ripple, has projected that the SEC litigation would be concluded in the first half of 2023.

Also Read: LBRY predicts it “will probably be dead” After an SEC defeat

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