Ripple firm want to expedite the case against SEC: Reports

On Nov 1, 2021

According to reports, the Ripple firm is facing huge issues because of the Ripple Vs SEC lawsuit so Ripple wants to end the case legally as soon as possible without more delays which are responsible because of the SEC’s recent motion grant by the court.

In the legal battle between Ripple & US securities and the exchange commission (SEC), the SEC agency got approval for the “two-month discovery phase” against the San Francisco based company. However, at that time, the SEC agency claimed that extension of the discovery phase against Ripple firm in search & creation of more witnesses will not impact the timeline of the case. But reports claimed that SEC statements are not in favour of Ripple and they just want to expand the case.

Recently, in the Q3 earnings calls discussion, the RippleÍ team talked about the ongoing legal battle with the SEC agency. Ripple believes that the SEC agency is trying to extend the case but now Ripple’s legal team will try their best to boost the case activities.

After the court grant of motion of the SEC agency, it was expected that the crypto market would not hear about Ripple vs SEC legal battle but here the situation is different now.

James K. Filan, the defence lawyer of Ripple firm, confirmed that Ripple company’ motion has been granted by the court. Through the motion grant, Ripple revoked the privilege logs provided with its response from 22 October, to the SEC’s older filing.

2/2 documents the SEC claims are privileged, including the email chain with a third party told by the SEC to analyze its digital asset under the framework of Hinman’s speech. The decision whether the SEC has to turn over the documents it claims are privileged has not been issued.
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 29, 2021

Here it is worth noting that, Ripple’ legal team wants to terminate the SEC’ anonymous activities & attack the Ripple firm. In the past, the SEC agency tried to hide many things against Ripple.

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Even when Binance helped the Court in the Ripple Vs SEC lawsuit by giving confidential operations based documents, the SEC refused to share reports & information with the Ripple firm.

According to the Ripple legal team, all the hidden, private & witness based proof against The Ripple Operations can’t be used against the firm.

Ripple gets support

At present, Ripple is getting better support in Australia and also in the crypto space.

Recently Australia took the reference of the suggestions of the Ripple firm to regulate the crypto market in favour of increasing the investors by keeping the unfair activities outside the space with strict rules.

Earlier this, Coinbase CEO Brian Armstrong tweeted in favour of the Ripple firm and criticized the operations of the SEC agency. Brian claimed that the SEC agency is only attacking the crypto companies.