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XRP Case: Ripple Objects to SEC’s Requests, but the Court Accepts Summary Judgment In 2022

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XRP Case: Ripple Objects to SEC’s Requests, but the Court Accepts Summary Judgment In 2022

Today, we are going to discuss XRP Case: Ripple Objects to SEC’s Requests, but the Court Accepts Summary Judgment In 2022

Ripple, Bradley Garlinghouse, and Chris Larsen—all defendants in the US SEC’s complaint against XRP—opposed Watchdog’s request. The commissions’ responses to the judge’s Daubert motion had to remain confidential in some cases. But it also covered the opposing sides’ response briefs.

Should XRP court files be made public?

According to the filing, the defendants object to the SEC’s demand that the names of the experts not be disclosed in conjunction with the parties’ motion. However, they argued that the commission had not provided sufficient particular evidence to support its assertions. But there is no evidence that the level of sealing used is enough to keep the professionals safe.

It’s intriguing that the defendants in the XRP case didn’t concur with the SEC’s request for summary judgement at the time that they did. On the other hand, James Filan, on the other hand, said that District Judge Torres had accepted the parties’ suggested sealing timeline.

The attorney provided an update regarding the hearing date for the motions for summary judgement. Additionally, he noted that many lawsuits are still in the “briefing” phase.

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Secret applications to exclude expert testimony from the trial were submitted in July 2022. The discussion surrounding these transcriptions continues in the interim. In the XRP case, the SEC has made a new claim about the Hinman document, but this is still being worked out.
It was mentioned that the parties are awaiting Judge Torres’ ruling and that the case has been properly briefed. If the commission loses its claim due to issues with privilege, Filan stated that the commission could seek an interlocutory appeal with the Second Circuit Court of Appeals. He was discussing the XRP case.

The parties shall submit their materials in support of their move for summary judgement no later than September 13, 2022. For the time being, although only for a short while, the information will remain private.

The parties will discuss their respective changes to support their brief motions on September 15, 2022. Briefs will be filed publicly on September 19, 2022, but some information will be obscured.

FAQ

Has XRP won the lawsuit?

Ripple Labs Inc. was given access to SEC papers so that it could fight a lawsuit filed by the Securities and Exchange Commission. The SEC said that Ripple Labs Inc. misled investors about its XRP cryptocurrency.

Did the XRP lawsuit end?

The infamous Ripple v. SEC litigation is finally nearing summary judgement, and everyone is eagerly anticipating that the parties will reach a settlement. The XRP holder’s attorney has since clarified the situation.

What will happen if the lawsuit is won by XRP?

If the SEC prevails in the legal dispute, XRP (the native cryptocurrency of the Ripple Blockchain) will no longer be regarded as a currency in the US but rather as a security. This might then establish a legal standard that leads to the classification of other cryptos like it as securities.

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Who is the judge in the XRP case?

The judge denied Amber Heard’s desire for the high-profile defamation lawsuit involving her and her ex-husband, Johnny Depp, to be declared a mistrial on Wednesday. Last month, Heard fell short of Depp. In the court’s judgement, Judge Penney Azcarate noted that there was “no proof of fraud or malfeasance.”

How big can XRP get?

According to CryptoNewsZ, if the Ripple network is widely adopted in the next few years, XRP might increase to as much as $1.53 in 2025. Trading Education is even more upbeat, projecting prices of up to $8.76 for 2025, or approximately 2,567% more than they are right now.

How long XRP lawsuit?

Ripple has argued against treating the digital coin as a security, which would subject it to considerably greater regulatory oversight. Ripple thinks the lawsuit, which has been going on for almost 15 months, will end this year.

Why is XRP in a lawsuit?

The sixth-largest cryptocurrency in the world, XRP, was sold by Ripple, according to the SEC, who claims this constituted an improper securities offering. Ripple says that XRP should be thought of as a digital currency, not as an investment contract like a stock.

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