blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Bet Now
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Bet Now
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Ripple vs SEC: Parties Begin Filing Replies to Arguments Against Motions for Summary Judgment

Mushu Butt by Mushu Butt
December 1, 2022 - 9:39 am
in altcoins news, sticky
0
SEC Ripple XRP
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Both Ripple and the U.S. Securities and Exchange Commission (SEC) have begun the process of filing their responses to the oppositions to the applications for summary judgment behind closed doors.

According to James K. Filan, a former federal prosecutor who is following the case, the versions of the reply that have had certain information blacked out will be made accessible on December 5. However, according to Filan, it’s possible that they’ll arrive a little bit sooner.

Before the most recent files are made public, Ripple and the SEC will get together for a meeting and talk about what redactions should be made. It is anticipated that the redacted replies will also contain comments on the numerous amicus filings that have been filed by supporters of both Ripple and the SEC.  

New Arguments By Both Parties

In September, both Ripple and the SEC submitted a move to the court requesting a summary judgment in an effort to circumvent the need for a trial. The defendants submitted their response to the request for summary judgment that the plaintiff had submitted on October 20.

Ripple asserted that the SEC was unable to provide evidence that owners of XRP had any expectation of profit from the company’s promotional activities. However, the regulatory agency maintains that there is “undisputed evidence” showing that the defendants engaged in unregistered offers and sales of securities.

On the other hand, the Chief Executive Officer of Ripple, Brad Garlinghoue, is reported to have forecast that the legal dispute with the SEC will be settled in the first half of 2023. 

The Lawsuit Could End Sooner Than Expected

The dispute between the SEC and Ripple has been going on for more than a year, and many people are beginning to wonder if there will ever be a resolution to the conflict. In this legal proceeding, the question at hand is whether or not XRP should be classified as a currency or a security.

In the event that the SEC is successful in its lawsuit, XRP will be reclassified as a security rather than a currency in the United States. After the establishment of such a legal standard, it is possible that similar cryptocurrencies will be categorized as securities.

There have been frequent developments and new turns in the investigation. It has been suggested by James K. Filan that certain deadlines in the ongoing Ripple litigation may be met sooner than expected.

The date that he believes the timeline may be subject to change is the date on which the redacted responses to the summary judgment would be filed. It seems that the consensus among members of the community is that a solution to the conflict between the two sides will most likely be found.

Some people think that the investigation into this matter is almost at its end. James K. Filan stated in a previous prediction that District Judge Torres will make a decision on the expert motions and the summary judgment motions together, on or around March 31, 2023.

Tags: AltcoinsCryptocurrencyRippleSECXRP
ShareTweet
Mushu Butt

Mushu Butt

Mushu Butt is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media.In addition to being a skilled content writer, Mushu is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushu enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for Blockchainreporter.

Recommended For You

Justin Sun Says His KPI for Current Year Is to Make TRX Adopted by 5 Countries as Their Legal Tender

by Umair Younas
January 29, 2023 - 10:41 am
0
Tron TRX

Justin Sun labelled this objective as ambitious. Nonetheless, he noted that dedication and hard work can play a significant role in achieving his goal.

Read more

US White House Administration Issues a Roadmap to Minimize the Risks of Crypto Assets

by Umair Younas
January 28, 2023 - 7:42 am
0
White House

The US White House Administration has released a roadmap for the Administration to minimize the risks associated with crypto assets.

Read more

SoftConstruct-Incubated Fastex Achieves a Big Milestone of Raising $23.2M in Unprecedented Fasttoken Sale

by Mushu Butt
January 27, 2023 - 5:23 pm
0
fastex

SoftConstruct-Incubated Fastex achieves a big milestone by raising $23.2M in its Fasttoken sale, cementing its position as a leader in the industry.

Read more

US Securities Regulator Probes Wall Street Investment Advisors over Crypto Custody

by Shayan Chowdhury
January 27, 2023 - 8:27 am
0
SEC

According to the latest report, the SEC has lodged an investigation against crypto custody advisers running their services without proper qualification. 

Read more

Upcoming FOMC Meeting and CPI Data Could Crush Bitcoin’s Bullish Market Outlook

by Mushu Butt
January 27, 2023 - 6:30 am
0
Bitcoin

The upcoming FOMC meeting and Consumer Price Index data could disrupt the bullish outlook for Bitcoin, according to crypto assets trading firm.

Read more
Next Post
BitMEX

BitMEX to Introduce ETHYLD to Offer Exclusive Hedging and Trading Opportunities to the Users

PARTNERS LIST

PRESS RELEASE

China’s “Instagram” chooses Conflux Network for permissionless blockchain integration

by chainwire
January 25, 2023 - 8:42 am
0

Toronto, Canada, 24th January, 2023, ChainwireLittle Red Book, (XiaohongShu), the Chinese version of Instagram integrates Conflux Network as permissionless blockchain...

snowfall protocol

Snowfall Protocol (SNW) Takes the Spotlight as Waves (WAVES) Founder Unveils New ‘Undepeggable’ Stablecoin and Ripple’s (XRP) New Commercial Released

by Max Clark
January 25, 2023 - 7:02 am
0

The cryptocurrency market has seen its fair share of ups and downs, but one project that seems to be gaining...

Snowfall

Binance (BNB) Will Back Terra Classic’s Upgrade, Cardano (ADA) Introduces Custom-built Sidechains, Snowfall Protocol (SNW) to Have its Grand Launch Soon

by Wayne Jones
January 24, 2023 - 4:53 am
0

While the former two are in the headlines due to recent changes in their ecosystem, Snowfall Protocol (SNW) is all...

Snowfall Protocol

Terra Classic (LUNC) and Polygon (MATIC) Shows Instability Signs, While Snowfall Protocol (SNW) Presale Raises $4M

by Max Clark
January 23, 2023 - 12:00 pm
0

This article will critically examine why Snowfall Protocol (SNW) is gaining ground and why Polygon and Luna Classic's (LUNC) price...

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2023 - Blockchainreporter.net. All Right Reserved.