In the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, both sides are jointly requesting a deadline related to sealing information in the case.
They are asking US District Judge Analisa Torres to set a deadline of January 4th, 2023 for non-parties to file sealing arguments ahead of a summary judgment, according to a request by the attorneys posted on Twitter by crypto legal expert James K. Filan.
“Given the Parties’ desire to reach an expeditious resolution of all sealing-related issues concerning Summary Judgement Materials, the Parties respectfully request that the Court set a deadline of January 4, 2023 by which any non-parties must move to seal portions of the Summary Judgment Materials or else waive any objections to the Court’s ultimate ruling on the Parties’ sealing applications; and January 18, 2023 by which any parties or non-parties may file oppositions to non-party sealing motions.”
Both parties in the case have a deadline of December 22nd to file their own sealing motions.
The SEC first sued Ripple in late 2020, arguing that the payments firm sold the crypto asset XRP as an unregistered security.
Filan previously said that he expects the judge would render a decision about what is sealed in the case at the same time she issues her summary judgment, not before.
Documents that have gained some of the most attention in the case, but remain under seal, are related to a speech by SEC’s former Director of Corporate Finance, William Hinman, including drafts and internal emails. Ripple had scored a legal victory when the judge ruled that SEC must turn them over.
In the 2018 speech, Hinman stated that Ethereum (ETH) was not a security.
Several high-profile voices in the crypto industry have filed amicus briefs in support of Ripple, including top US exchange Coinbase.
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Source: https://dailyhodl.com/2022/12/10/ripple-and-sec-collectively-ask-court-to-set-key-date-as-xrp-lawsuit-enters-critical-phase/