The unregistered securities sale lawsuit filed by the SEC against Ripple on Dec. 20 has been on the cryptocurrency community’s radar for months, and developments have been followed closely. While there are many lawyers who support Ripple company from outside, one of these names is US lawyer James Filan.
Documents the SEC requests confidentiality will be presented to the judge
Filan, who regularly shares information about the case and makes evaluations with official documents, had previously shared the hearing calendar for September. One of the important dates for the case is September 14. An amended version of parts of the files that the SEC claims should remain confidential will be made publicly available to the court. The original versions of the files will also be handed over to trial judge Sarah Netburn, both physically and digitally. Judge Netburn will also decide at a later date what information can be made public, following comparisons between the files.
One of the issues that the Ripple community is most skeptical about here is that the SEC will be able to bring the files it wants to court. Therefore, aside from the fact that the changes made will be decided by the SEC, the institution may never deliver the files that it does not want to present to the court, to the judge Netburn. This decision is entirely in the hands of the SEC. By revealing these files, the Ripple side aims to reveal whether the SEC’s employees are allowed to trade Bitcoin, Ethereum and XRP, and under what conditions these decisions are made.
Brad Galinghouse and Chris Larsen to testify
Also on September 14, Brad Garlinghouse, CEO of Ripple company, will testify in court. Another executive, Chris Larsen, will also speak on September 20.
September 28: Ripple’s privacy response to the SEC
The last hearing date in September is September 28. Here, the lawyers of Ripple company, who are on the defense side of the case, will present their opinions to the court regarding the files submitted by the SEC on September 14th. The SEC claims these files are based on internal confidentiality principles.
Also in the lawsuit, the SEC also wants some of Ripple’s files, especially Slack conversations, to be exposed. The Ripple company, on the other hand, wants to seal some files with video and audio recordings, claiming that they are based on personal privacy, and offers to submit the remaining files to the SEC, but the hearing dates on this issue are not yet determined.
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