- Sarah Netburn, the Magistrate Judge, created a hurdle for the SEC in the ongoing lawsuit.
- The case is showing no signs of slowing down in the near future.
- The Ripple CEO has faith in the organization and feels that case will be resolved soon.
Ripple Case Isn’t Going To End Soon
The Magistrate Judge seeing the Ripple vs SEC case has created a new obstacle for the Securities and Exchange Commission as she had granted Ripple’s appeal to serve subpoenas and authenticate public remark videos made by the officials of the regulatory body.
Ripple will serve a couple of subpoenas to at least 7 officials of the Securities and Exchange Commission. Sarah Netburn, the judge ignored claims made by the notorious regulator that Ripple is trying to re-open fact discovery. It is unlikely that the people will see the conclusion of this case soon.
The regulators filed the lawsuit back in December 2020. They made allegations that the organization traded XRP worth 1.3 Billion USD as securities without registration. Which Ripple clearly denied, giving rise to the ongoing lawsuit.
But the winds are not in favor of the Securities and Exchange Commission. Lawyer James Filan unveiled the fresh win for Brad Garlinghouse’s organization.
Things Are Not Looking Good For SEC
The notorious regulator has not witnessed any prominent win in the case to this date. And the remark authentication by the officials is likely to go into the favor of the defendants, further cementing the case for Ripple.
In spite of the reluctant stretching of the Ripple vs SEC lawsuit, Brad Garlinghousem the CEO, thinks highly of his company. And thinks that the case will end by the end of 2022. It is believed by several people that XRP’s price will rise if the case is won by the defendants.
Source: https://www.thecoinrepublic.com/2022/08/16/a-new-blow-for-sec-in-the-deluge-of-ripple-lawsuit-events/