Wednesday, August 10, 2022
Home Crypto News Market Court Grants SEC A Chance to Propose Redactions to Ripple’s Response Letter...

Court Grants SEC A Chance to Propose Redactions to Ripple’s Response Letter Before It Goes Public

- Advertisement -
Follow-Us-On-Google-News

Court Orders SEC to Propose Redactions to Ripple’s Response Before It Goes Public.


The SEC has been given a chance to make proposed redactions to Ripple’s response to its objection to amici’s request to participate in the upcoming expert challenge.

Following Ripple’s request to have its response to the SEC’s objection to Amici’s participation in the ongoing lawsuit filed publicly, the court said it would only allow the Defendants to file a response in the public docket after the Securities and Exchange Commission has made proposed redactions to the blockchain company’s reply.

According to a recent order, the Securities and Exchange Commission is instructed to go through Defendant’s response and make proposed redactions by June 23, 2022.

If the SEC has any proposed redaction to Ripple’s reply, the SEC will be required to submit a letter explaining why it does not want some of the portions of Defendant’s response to its amici’s objection filed in the public docket.

“Accordingly by June 23, 2022, the SEC shall file any proposed redactions to Defendant’s response and a letter explaining its proposal,” Judge Analisa Torres ordered.

The court’s order was shared by attorney James K. Filan on his Twitter page, who explained the development, saying:

“Judge Torres is saying that before she lets the Defendants file the response publicly, the SEC gets a chance to say if there is something in the response that should not be public and why. She wants to see what the SEC wants redacting and then rule on everything at the same time.”

Ripple Wants Its Response to the SEC Filed Publicly

The development comes less than two weeks after Ripple and Individual Defendants, Chris Larsen and Brad Garlinghouse, requested that the court publicize its response to the Securities and Exchange Commission’s objection to amici’s participation in the upcoming Daubert challenge.

Defendants noted at the time that although it filed its response to the SEC’s objection to Amici’s participation under seal, it is open to having the response filed in the public docket.

“We filed our response under seal today out of deference to the court’s forthcoming ruling on the SEC’s still-unresolved motion to seal […] We respectfully request that our entire response letter be filed on the public docket with the exception of the redactions of the experts’ name”

Ripple Disagrees With the SEC’s Move to Seal Its Amici Objection

Recall that the SEC requested to file under seal its objection to amici’s request to participate in the Daubert challenge. The agency noted that its decision to file its opposition to amici’s participation in the Daubert challenge is part of an effort to protect the expert from any form of attack and harassment from XRP investors directly affected in the ongoing lawsuit.

However, Ripple did not think the reason cited by the SEC to file its entire objection under seal is sufficient enough, thus prompting the court to request that the agency make a proposed redaction to the sections, which have the tendency of jeopardizing the expert’s safety.

- Advertisement -

Disclaimer

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.

Ammara Mubin
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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Metaverse Memecoin Tamadoge Raises $1 Million Midway Through Its Beta Sale

London, UK, 10th August, 2022, ChainwireTamadoge, the P2E metaverse meme coin, has raised $1 million after just 12 days of its beta sale. The...

Vitalik Buterin, Justin Sun, Binance, FTX Join 440 Addresses Receiving 0.1 Ethereum From Sanctioned Tornado Cash

  Binance and FTX Join the 440 Addresses That Received 0.1 ETH From Sanctioned Tornado Cash. window.coinzilla_display =...

Nigerians Can Now Pay Their Utility Bills With Bitcoin

  Cryptocurrency is now accepted for utility payments in Nigeria. window.coinzilla_display = window.coinzilla_display || ; ...

GALA, The World-Leading Web3 Company, Spearheads A New ERA Of Entertainment With GALA FILM

Jackson, USA, 9th August 2022, Chainwire Announce Partnership With Stick Figure Productions to Distribute Four Down Executive Produced by Dwayne Johnson and More. Gala, one of...

XRP Shuffling Continues, 375 Million XRP Moved Around Ripple, Exchanges, and Unknown Wallets 

  Whale Alert continues to keep tabs on these large XRP movements. window.coinzilla_display = window.coinzilla_display || ; ...

Ethereum Proof-of-Work Fork (ETHPOW) Driven By Miners To Abolish EIP-1559

  EIP-1559 will be abolished in the Ethereum proof-of-work (PoW) fork. window.coinzilla_display = window.coinzilla_display || ; ...

CryptoCom CEO: Crypto Industry Will Comeback Very Strongly

Crypto Industry Will Come Back Very Strongly, says the world's top exchange CEO. window.coinzilla_display = window.coinzilla_display ||...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.