While Ripple seeks to reject the use of said material for being private, the SEC defends that they constitute evidence that should be published, precisely to be used in the development of the case.
New reports related to the dispute in courts of Ripple against US Securities and Exchange Commission (SEC) They point out that the regulatory body would be trying to appeal the request of the solution developer company Blockchain, which tried to dismiss certain recordings, transcripts and videos presented as evidence of alleged irregularities perpetrated by the company.
According to information published by the account @CryptoLawUS, the SEC originally presented material associated with internal meetings held by the Ripple, which the company seeks to dismiss as constituting a violation of its privacy. The regulatory body ensures that the content of these documents and recordings could significantly influence the current case.
– CryptoLaw (@CryptoLawUS) October 15, 2021
Private material of Ripple
As such, the SEC presented at the end of August a motion in which he required Ripple to consign some recordings and videos. The company delivered the corresponding material and the regulator submitted another request to request more material, but wants to make public certain findings since there were statements made by the company’s CEO, Brad Garlinghouse, and other executives that could corroborate certain theses.
In this regard, SEC commented:
“These transcripts contain statements by Garlinghouse and other key Ripple employees that refer directly to whether the XRP offers and sales are ‘investment contracts’ and therefore securities under the laws currently in force.”
According to SEC, with that request Ripple seeks to invalidate and seal some extracts of certain statements made by Garlinghouse at some of these meetings. For the regulatory body, the transcripts of these meetings are judicial material, which could well be disclosed to the public to better clarify the legal panorama of the case.
The dispute continues
Although at the moment it is not known what direction the case will take in the next few days, analysts and people who closely follow the case indicate that the SEC He fights the validity of these tests because they constitute the central axis of his complaint, which serves as support for the accusations made against Ripple.
In the meantime, Ripple also capitalizes on small victories in the case by gaining access to documents from the SEC and invalidating certain testimonies, the latter under the premise of conflicts of interest.
At the moment the case continues its course. The directors of Ripple they maintain that the token XRP It is not a security, and thanks to the commercial evolution seen in recent months, it seems that the digital currency has managed to recover from the hard blow caused by its exit from the most popular exchanges.
Source: Twitter, AMBCrypto
Version by Angel Di Matteo / DailyBitcoin
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