California, USA – Ripple files a motion recently to request SEC employees to disclose their XRP holdings, and traders look forward to the next hearing to be the last one as it might be a win for Ripple.
Ripple has been facing the case filed by SEC or Securities and Exchange Commission since December 2020. Both parties filed a motion relating to the current case, but Ripple has been filing motions with strong evidence that will let it win the case. Now, Ripple filed a case to the court for employees of the SEC to disclose their cryptocurrency holdings.
The court set the deadline to August 31 for the hearing to discuss the privilege dispute, which has been dragging for too long already.
SEC didn’t want to hand over important documents regardless of the insistence to the Judge to provide the details because SEC claims that the employees are under the Deliberative Process Privilege (DPP). It doesn’t only protect the document but the integrity of the process itself. Documents involving ETH and SEC are crucial to the case, so the court approved the appeal. However, SEC doesn’t want to comply.
According to Atty. Jeremy Hogan, the next hearing is very crucial since Ripple could obtain the documents that might support their defence during the hearing. The document, it’s stating that Ether was not a security back in 2018 as per SEC.
Hogan also stated that SEC triggered a move in this litigation, where it sacrificed its Fair Notice Defense position to thicken the stand stating that XRP is a security.
The next hearing, scheduled on August 31, might be the final hearing that will dismiss the SEC filed against Ripple. Hogan stated that the dilemma with a settlement between today and November 12 is that the involved parties will not know how strong each position’s side is until the discovery is done.