Ripple’s request to watch footage of SEC officials is granted by the judge


Sunday, U.S. judge Sarah Netburn allowed Ripple Labs’ petition to serve two subpoenas to verify seven video recordings, including public statements by U.S. Securities and Exchange Commission officials.

In response to Ripple’s request asking the authority to serve two non-party subpoenas to collect copies of seven video recordings by the court’s July 19 ruling, the judge has issued the current order.

A tweet by defence attorney James K. Filan revealed that Ripple’s motion was in reaction to the SEC’s attempt to resume discovery and seek a waiver of authenticity and other procedural objections to the agency’s films.

Once Ripple releases downloadable copies of the SEC films, available on two video sites, the SEC said it would attempt to validate the statements.

Ripple said that the two subpoenas it sought to serve do not constitute a reopening of discovery and pose no concern concerning timeliness.

Filan stated in a tweet that Judge Netburn “ignored the SEC’s assertion that Defendants were attempting to reopen fact discovery.”

The SEC filed a complaint against Ripple in December 2020, stating that the sale of XRP constituted an unregistered issue of securities worth over US$1.38 billion. Ripple’s executive chairman Chris Larsen and CEO Brad Garlinghouse were also identified as co-defendants by the SEC for allegedly aiding and abetting the company’s crimes.

According to statistics from CoinMarketCap, XRP, the native token of the XRP Ledger established by Ripple Labs, was down 4.6% over the last 24 hours to US$0.3693 at 4:33 p.m. HKT.

Also Read: Kevin O’Leary feels institutional adoption is worth sacrificing Tornado Cash

Leave A Reply

Your email address will not be published.