Ripple v. SEC: Latest Updates and Regulator's Response

Tuesday, 21 May 2024, 09:32
The latest update in the Ripple v. SEC case shows the regulator's response to Ripple's request to seal certain information. The SEC argues that specific financial and securities sales information should be public to justify remedy requests, while clarifying details on XRP sales contracts. This ongoing legal battle continues to unfold key developments with implications for both Ripple and the cryptocurrency community.
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Ripple v. SEC: Latest Updates and Regulator's Response

Ripple v. SEC: Regulator’s reasoning

As per the SEC, the 'Court should deny Ripple’s request to conceal financial and securities sales information' as it constitutes 'judicial documents.' The legal expert, Bill Morgan, highlighted that the SEC confirmed no XRP sales to institutions with discounts were on-demand liquidity (ODL) contracts.

SEC v. Ripple news

  • Ripple filed a motion to seal or redact confidential information, including financial terms of contractual agreements, supported by its CFO, Jonathan Bilich.
  1. The regulator submitted a remedies reply brief, arguing for injunctions and accusing Ripple of planning to issue an unregistered stablecoin.

XRP's market performance continued to fluctuate amidst the legal battle, with recent gains recorded on May 21.

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.

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