The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has seen a recent development. The SEC has submitted a response summary and supporting documents under seal, but a public version and additional sealed records will be released soon.
James K. Filan, a former federal prosecutor, revealed on May 6 that the SEC has confidentially presented its solutions, brief responses, and supporting evidence. These documents are not yet available to the public, but redacted versions will be filed by May 8, 2024. Other filings related to sealing will follow.
A sealed filing means that it contains confidential information that cannot be disclosed to the public at this time. The edited versions of the document will be archived by May 8, 2024.
The crypto community is eagerly awaiting the release of the edited versions, as they will provide insights into the regulator’s arguments and the potential implications for Ripple and its native token, XRP.
Filan’s document highlighted the upcoming deadlines in the legal process. On May 7, the parties will meet to discuss any requested redactions to the response summary and annexes. On May 8, the SEC is expected to release a public, edited version of its recent summary and supporting documents.
By May 13, the parties and third parties will be able to present motions to seal the materials related to the solutions briefing and propose drafts. However, on May 20, both parties and third parties will be able to file briefs opposing the motions to seal.
It is important to note that the views expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.
