Ripple vs. SEC Case Update: SEC's Filing and Ripple's Defense Arguments
SEC’s Brief Details
Among other things, the agency’s brief states that Ripple’s claims that it did not act recklessly were contrary to evidence, as well as that its additional arguments were unavailing, therefore arguing for the necessity of the requested injunctions. According to the SEC:
- Ripple argues the Court ‘should also take into account the SEC’s own conduct,’ and that because the SEC supposedly ‘knew of Ripple’s activities no later than October 2013,’ this also counsels against injunctive relief. (…) Ripple’s contentions are meritless.
Ripple SEC Case Comments
Commenting on the recent developments, Ripple’s chief legal officer, Stuart Alderoty, shared his disappointment with the SEC’s practices in the case, accusing the securities watchdog of “trying to pull the wool over the Judge’s eyes” but also stressing that:
- “The good news is that we are closer than ever to putting this lawsuit behind us, though, unfortunately, many are just starting the journey. We trust the Court will approach the remedies phase fairly.”
XRP Trading Update
Elsewhere, XRP, the token that has been at the center of the long-running Ripple v. SEC legal standoff, was at press time trading at the price of $0.51, recording a 0.37% decline in the last 24 hours, dropping 2.17% across the previous seven days and adding up to the 15.17% loss on its monthly chart, as per data on May 10.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.