Home Ethereum Ripple lawsuit: SEC gets another shock after latest court ruling

Ripple lawsuit: SEC gets another shock after latest court ruling

Ripple lawsuit: SEC gets another shock after latest court ruling

The US watchdog SEC has recently taken a hit as the battle against Ripple has entered an interesting phase this week.

There are good reasons for the SEC to be concerned right now with a losing streak. In their last Acrimoniously, Judge Netburn approved Ripple’s motion to authenticate SEC officials’ public remarks.

This motion was initially challenged by the SEC who claimed that Ripple was trying to reopen fact finding.

No end here

The SEC vs. Ripple case continues to entice the crypto community as it drags on into another month.

The case has seen it all over the years and isn’t looking to end anytime soon.

In the above petition, filed on August 4, the SEC had placed a condition, just in case, should Ripple proceed with the petition.

The condition of the consent was that “the defendants agree to reopen discovery”.

The move could allow the SEC to file its own subpoenas seeking copies of unspecified records.

Renowned lawyer James Filan continues to publish his thoughts on this case. He was visibly irritated by the lackluster response from the SEC. In this regard, he Noted,

“The SEC’s response is simply an abuse of legal process and a waste of Court time, as evidenced by the fact that the SEC waited five days to file a one-sentence response in which the SEC then misinterpreted Ripple’s original request.”

The behavior of the SEC has also recently been questioned by the crypto community.

An enthusiast who went by the name Ashley PROSPER on Twitter said, “The SEC behaving badly could get the case thrown out.”

To keep in mind, Justice Netburn once used the term “unfaithful allegiance to the law (bad faith)” toward the SEC.

In the meantime, he has also been reported that both parties file their responses to the motions to exclude expert testimony.

These responses are currently under seal. But what will happen next in this seemingly endless legal battle continues to be an interesting topic for the crypto community.


Please enter your comment!
Please enter your name here