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Court Allows Ripple’s Motion to Seal Privileged Logs

Gaurav Roy by Gaurav Roy
November 1, 2021
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On October 30, 2021, the SEC granted Ripple its motion to seal the privileged logs in response to the SEC’s filings. 

Ripple’s defense managed to convince the court to seal the evidence brought about by the SEC’s submission of three documents for in-camera review. 

After conferring with the SEC, the plaintiff did not object to filing the documents under seal. More importantly, the SEC already deemed these documents confidential, explaining the SEC’s passiveness in the filing. 

In the letter from Attorney Matthew C. Solomon, the counsel of Bradley Garlinghouse, he explains what the privileged logs contained. According to the letter, Exhibit A is a privilege log deemed confidential by the Securities and Exchange Commission. On the other hand, Exhibit B was a document produced during litigation and deemed confidential by the SEC “pursuant to the Protective Order.” 

The case gained media attention as the SEC continued to seek a Protective Order under the court. 

On October 22, 2021, Ripple released an explanation for asserting the confidentiality of these documents by providing a redacted version to the court for in-camera review. 

The attention happened when Ripple agreed with the defense to disclose the details contained in the document. More precisely, Ripple’s decision baffled the media as they tried to derive the reason why the company needed to review the documents it had no relation with in the first place. 

Furthermore, Ripple called the SEC’s claims to disclose the discussions as weak and lacking legal relevance. 

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Gaurav Roy
Tags: Ripple SEC extensionSEC granted extension Ripplewill Ripple win the court caseXRP lawsuit update today
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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