The case between Ripple and the Securities and Exchange Commission was believed to be closed. And yet, there is movement on the side of the United States DoJ. Indeed, Judge Sarah Netburn has just approved the request to obtain seven video recordings of public remarks by SEC officials.
Ripple against SEC, the videos of discord?
The sequence of events concerning this Ripple vs SEC affair no longer plays in favor of the American regulator, apparently. Because Judge Sarah Netburn has just granted the green light to serve subpoenas from two video-sharing platforms, all third parties, to authenticate 7 videos of public remarks by agency officials.
This decision follows a demand issued by the Ripple defendants on the day of August 3. It served as a response to an attempt by the SEC to reopen discovery proceedings and a request for a waiver of authenticity. So many actions that will complete his process of issuing several summonses to appear in order to obtain video material. If successful, the SEC will have enough to justify its own claims.
Defense attorney James K. Filan tweeted several details about it on August 4:
” #XRPCommunity #SECGov v. #Ripple #XRP Ripple Defendants seek permission to serve subpoenas on third parties to authenticate videos of public remarks by 7 SEC officials in connection with previous RFAs. The SEC does not consent and is seeking to reopen discovery. »
Just today, the same litigant pointed out that:
” In a verbatim order, Judge Netburn granted the Ripple defenders’ motion to serve two subpoenas to authenticate videos of seven SEC officials’ public remarks and ignored the SEC’s claim that the defendants were trying to reopen the discovery of the facts. »
Basically, Ripple won the court case.
The SEC, in trouble?
As you know, the United States Securities and Exchange Commission has changed its tone lately. Judging by his decision to investigate about forty American cryptocurrency exchanges, it is highly likely that other adversaries will be added to his list in the legal community.
However, if we take into account this case opposing him to Ripple, it seems that Nike, the goddess of victory, is not acting in his favor. Observers have also concluded an exit from Ripple with their heads held high according to the latest developments.
In this story of video authentication, made complex by a request for reopening of the discovery by the SEC, the American agency has found no better than this reply:
” Plaintiff respectfully takes no position on defendants’ motion to reopen fact finding to serve subpoenas on third parties for the purpose of obtaining video recordings for authentication. »
Fortunately, in this 1.5 year old story, Ripple was able to continue on its way. Indeed, the company has been able to expand to other corners of the planet, particularly in Asia, and lately, we have heard that it could acquire the shares of the unfortunate Celsius protocol.
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