The lawsuit between Ripple and the SEC is currently capturing the full attention of the crypto industry. If this conflict captivates so much, it is also because behind this confrontation perhaps lies the future of cryptocurrency and its regulation. In recent hours there is a new update on the progress of the conflict between the two protagonists. It is James K. Filan who delivers news by specifying the release of a witness who would have issued a response to the opposition of the Ripple platform in the context of a previous request whose objective was to keep his name confidential. , his identity, his position and even his employer. Apparently, an employee of the SEC would therefore have voluntarily submitted his declaration.
Ripple vs SEC: towards a new legal battle?
The entire crypto community is eagerly awaiting the court’s decision in the lawsuit between Ripple and the SEC. The suspense is such that no one can say exactly what will happen. In addition to information, it is important to specify that the two parties have already issued their final opinions. During this time, John Deaton which a certain affinity with Ripple has prompted an investigation into the XRP community to get an idea of the verdict that could fall in the context of this case. And since that date, updates are made regularly according to the evolution of the case. In this latest update for example, it’s James Filandefense lawyer who attracts all eyes.
The lawyer has just posted a tweet in which, a witness reportedly filed a response to Ripple’s objection to their motion not to reveal his identity to the public. It basically read that revealing one’s identity at this stage of the proceedings would be shooting oneself in the foot. Moreover, if the identities became public, many witnesses could withdraw from the trial to protect their lives. The SEC employee who voluntarily volunteered to testify in this complex case is asking for protection.
We specify that this conflict between the 2 entities is based on an accusation that Ripple sold securities not registered under form of XRP Tokens. This question of confidentiality on the identity of a key witness is another decision on which the judge will have to rule.
Who from the SEC or Ripple will have the last word in the lawsuit that currently opposes them. Both sides are showing optimism and expecting a win. One thing is certain, regardless of the outcome of this case, the XRP token will be the first to feel the impact of the verdict one way or another.
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