Ripple Claims the Victory Against SEC After Filing the Motion
New York, USA – Ripple is claiming its victory after Judge Sarah Netburn sided this blockchain company. It put the legal team of Ripple one step ahead of SEC.
Judge Sarah Netburn sided Ripple regarding the ongoing case filed by the Securities and Exchange Commission in December 2020. It has been a bumpy road for Ripple, but this blockchain company continued to fight the allegations of the SEC after stating that XRP is not a security. After Judge Netburn sided Ripple, the company looks forward to a victory on September 28, during the deliberative process.
This Judge’s decision came after the telephone conference regarding the motion of Ripple to request internal documents from the SEC. She will do an on-camera exam of SEC’s internal documents. Ripple will not be a part of the examination to assess whether SEC overstepped the mark or not, which is related to the DPP or Deliberative Process Procedures to diminish fact discovery.
These documents are very relevant because they are related to the discussion of SEC regarding Ethereum (ETH) and Ripple (XRP) before the case started. Aside from that, the motion that Ripple filed last August was about the disclosure of the XRP holdings of employees of SEC. The blockchain company thinks it’s crucial because it can give them the advantage to win over the case.
Aside from that, the public admission that Ripple witnessed defeated SEC’s effort to stop the “Hinman Deposition.”
On another note, Jeremy Hogan commented on this case. He said that Judge Netburn agreed how the documents are important, and these will undoubtedly overcome the privilege argument of SEC. It’s why she will examine the documents in a camera review for fairness.
With this case, SEC might provide redacted copies of the documents to Ripple, but they will provide the complete one to the Judge for the final ruling. Ripple demands SEC to give non-evasive responses on the Howie Test. As per this blockchain company, it has been avoiding the inquiries of defendants regarding this case.