When Ripple got notice of the SEC's lawsuit, it decided not to settle out of court and fight the case in front of a judge. The response of the company was immediate and scathing. Brad Garlinghouse, the CEO of the company, quickly took to Twitter to note his displeasure at the suit....
The SEC must wait until the of its case against Ripple to appeal against court rulings. However, the SEC showed its intentions in August 2023 by filing amotion for interlocutory appeal. The court rejected the motion in October 2023, forcing the SEC to wait until the court rules on the pen...
As the SEC and Ripple continue to battle it out in court, cryptocurrency investors are waiting with bated breath to see how the case will play out. Both sides have valid arguments, and it’s possible that both could come away victorious. However, as of now, and this is based on the ca...
The SEC argued that the two Ripple-friendly firms should have been required to provide evidence as part of the Ripple Labs’ defense. Furthermore, the SEC stated that TapJets and I-Remit failed to explain how their use of XRP is linked to the outcome of the ongoing court case. In filing...
Jessica Magee, chair of the firm's Securities Enforcement Defense Team, was quoted in a Law360 article about the outcome of the U.S. Securities and Exchange Commission's (SEC) case against Ripple Labs Inc.
It is not clear what Ripple aims to accomplish by having a former SEC member testify in court. However, Ripple previously criticized the SEC for launching its legal case during the transition between the Trump administration and Biden administration. ...
They added that the information that theSECis requesting is not relevant because it is a “non-fraud” court case, and Ripple had already agreed to provide all relevant data per the allegations. “This is not a fraud case. There are also no allegations that the Individual Defendants’ persona...
In an Oct. 19 filing in U.S. District Court for the Southern District of New York, the SEC notified the court the parties involved in its case against Ripple “have stipulated to the dismissal with prejudice”, suggesting there was no need to schedule an upcoming trial. The filing did no...
(Opinion 29, FN 20). Notably, in support of this point, the court cited to Ripple's authority ofUpton v. SEC, 75 F.3d 92 (2d Cir. 1996), a case advanced by several parties in support of fair notice arguments. Expect to see this Due Process argument repeatedly advanced by ...
Legal experts say it could take Failla anywhere from two to six weeks to make a decision. If and when the case advances, the outcome could mark an important precedent in U.S. crypto regulation. If the court sides with Coinbase, it could significantly hamper SEC Chair Gary Gensler’s atte...