Ripple And SEC Started Filing Replies To The Oppositions To Motions

The U.S. Securities and Exchange Commission and Ripple have begun submitting their responses to the oppositions to the requests for summary judgment in sealed documents.

Both parties have submitted their responses to the opposition to the requests for summary judgment under seal, bringing the case closer to a conclusion. Before making files public, the provider of crypto solutions and the U.S. Securities and Exchange Commission will meet and discuss redactions.

The redacted copies of the responses will be available on December 5, according to James K. Filan, a former federal prosecutor who monitors the case. But Filan says they could show up a little earlier. The redacted replies are anticipated to address a number of amicus filings that have been submitted by both Ripple and the SEC’s supporters.

According to Ripple CEO Brad Garlinghoue, CEO of Ripple Labs had previously said at the DC Fintech Week conference on October 2022 that the end was in sight, and the lawsuit would end in the first half of 2023.

A couple of months ago, Ripple and SEC filed their motion for summary judgment in September to avoid a trial. The defendants responded to the plaintiff’s motion for summary judgment on October 20. The SEC couldn’t prove, according to Ripple, that XRP owners anticipated financial gain from the company’s promotional efforts. However, the regulatory body argues that “undisputed evidence” demonstrated that the accused made unregistered securities offers and sales.

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