1 year ago
District Judge Analisa Torres has granted the petition by the U.S. Securities and Exchange Commission (SEC) seeking to record an interlocutory entreaty successful the Ripple lawsuit implicit XRP. Judge Torres’ support came 1 time aft Ripple Labs filed its objection to the SEC’s request.
Judge Approves SEC’s Request successful Ripple-XRP Case
The U.S. Securities and Exchange Commission’s petition seeking to record an interlocutory entreaty successful the Ripple lawsuit implicit XRP has been granted by District Judge Analisa Torres contempt Ripple’s objection to the regulator’s request.
In a court order filed connected Aug. 17, Judge Torres stated that the tribunal had reviewed the SEC’s and the defendants’ letters, adding:
The SEC’s petition to record a question for permission to record an interlocutory entreaty is granted.
The justice further ordered the SEC to record its question by Aug. 18 and the defendants (Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen) to record their absorption papers by Sept. 1. The SEC indispensable past record its reply, if any, by Sept. 8.
The securities watchdog filed a request connected Aug. 9 seeking support from Judge Torres to record an interlocutory entreaty to immoderate parts of her ruling successful the Ripple lawsuit implicit XRP. The SEC besides seeks to enactment the territory tribunal proceedings.
On Aug. 16, Ripple Labs, Garlinghouse, and Larsen filed their absorption to the SEC’s request. Ripple’s main ineligible officer, Stuart Alderoty, tweeted Wednesday: “We reason the SEC’s petition for an interlocutory appeal. There is nary bonzer condition present that would warrant departing from the regularisation requiring each issues arsenic to each parties to beryllium resolved earlier an appeal.”
Lawyer James K. Filan clarified connected Twitter what Judge Torres has approved. “The tribunal has acceptable a briefing docket for the SEC’s petition to record a question for permission to record an interlocutory appeal. This does not mean an interlocutory entreaty has been authorized. It conscionable means the SEC is allowed to petition it.”
The SEC is not seeking to dispute whether XRP is simply a security; it is seeking to appeal the court’s determination connected programmatic offers and income of XRP connected crypto exchanges arsenic good arsenic Ripple’s “other distributions.” Ripple CEO Brad Garlinghouse stressed:
Reminder — the petition for entreaty (even if granted) doesn’t alteration the information that XRP is not a security. That’s not up for statement / trial.
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