The Securities and Exchange Commission (SEC) has been proactive in keeping discovery alive. This resulted in more delays and some of the heaviest communications seen to date in a lawsuit of this magnitude. The SEC filed a movement to edit some parts of selected minutes of meetings between third parties of the Agency. This includes a sequel to January 13, 2022, ruling on the deliberative process privilege (DPP).

Rather than delay the plaintiff further, the decision to grant or deny the SEC’s editorial request was left to Judge Sarah Netburn.

All eyes are on you

Defendants, surprisingly, decided to take a different route this time as they wrote down the SEC’s comments. Brad Garlinghouse and Chris Larsen also responded to the SEC’s request to edit some portions of the minutes of the meeting between the agency and other third parties.

James Filan, a renowned attorney, highlighted this development in an April 4 tweet. According to the filing, Ripple Labs relied on the SEC’s statements and the court’s assessment.

Especially the suspect will not challenge SEC’s motion to redact some portions of its handwritten notes between the agency and third parties. Instead of,

“Relies on SEC statements and the Court’s review to determine whether the edited portions expressly reflect the authors’ own thinking or reflect the deliberations or communications between SEC personnel at the meeting.”

Essentially because only the court and the SEC analyzed the unedited documents, Ripple should “defer to the Court to decide whether the DPP protects the redacted parts,” the filing added. philan repeated,

“Because they have not seen the full documents, the defendants cannot determine whether the editing is appropriate. Therefore, they must abide by Judge Netburn’s interpretation and judgment.”

Interesting to note that Ripple could challenge the move again. Now the question is: Should Ripple believe that the notes do not reflect the personal views of SEC staff?

Wavy Effects Caused by Waiting

Needless to say, the XRP community remains annoyed by the situation that has arisen. At this point, the Ripple community awaited decisions on the motion for reconsideration, the motion to remove the supplementary expert report, the move to enforce the Estabrook notes, and now the editorials.

Several enthusiasts expressed concern. Now the question remains: could this slowdown affect XRP? The token has undergone another correction of 1.5% in the past 24 hours.

XRP was trading at $0.82 at the time of writing according to CoinMarketCap. interesting, XRP mortal remains “well positioned for a 45% surge to $1.25 despite such draws.





This post Ripple relies on the court’s decision to determine this, but what is the SEC connection?

was published first on https://ambcrypto.com/ripple-is-relying-on-the-courts-decision-to-determine-this-but-whats-the-sec-connection/

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