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New Development Shows Ripple Will Not Currently Challenge The SEC Redaction Motion

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Ripple Responds to SEC’s Motion to Redact Selected Documents.


 

Ripple cannot challenge the SEC’s request at the moment because it has little knowledge about the proposed redactions. 

Popular blockchain company Ripple and Individual Defendants, Brad Garlinghouse and Chris Larsen, have responded to the Securities and Exchange Commission’s request to redact some portions of the meeting minutes between the agency and other third parties. 

Ripple’s Response

According to Ripple, it will not currently challenge the SEC’s motion to redact some portions of its handwritten notes between the agency and third parties because it does not have access to these documents. 

The company stated that since the handwritten notes are with the court and it has not gotten the opportunity to analyze them, it would be relying on the SEC’s representation and the court’s review. 

This, according to Ripple, will decide whether the “proposed redact portions reflect the author’s own thinking deliberations or communications among SEC staff during the meeting.” 

Apparently, Ripple is leaving the court to decide whether the proposed redacted portions of the documents are protected by Deliberative Process Privilege (DPP). 

Redaction Proposals

Recall that the SEC last month filed a motion to redact handwritten notes of meetings’ minutes between the commission and third parties. 

The Securities and Exchange Commission argued that the proposed redacted portion conveys the personal opinion of its staff and cannot be used as public guidance. 

Instead of leaving anything to chance, Ripple requested that it need go through the proposed redacted notes and ask the securities regulators to forward the documents to them in order to determine whether it would challenge its redaction motion. 

It seems Ripple was only given complete handwritten notes from the meeting minutes and the blockchain company could not identify the exact portion the SEC wanted to redact. 

Based on little knowledge of the exact portion, Ripple is relying on the court’s decision to determine whether the proposed redaction is protected by the DPP. 

It is expected that Ripple could challenge the motion again, should it feel that the notes do not reflect the personal opinion of the SEC’s staff. 

At the moment, the Ripple community is waiting for decisions on the motion for reconsideration, the motion to strike the supplemental expert report, the motion to compel turnover of the Estabrook notes, and now the redactions.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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