Ripple vs SEC Lawsuit Now Takes A New Turn With Ripple Getting A Green Signal!

The recent Twitter post by defense lawyer James K. Filan confirmed that Ripple has gained a minor victory after its request for a time extension to respond to SEC get approved. As per the attorney, the request was granted by the court in a Text Only Order.

In an update provided by Filan, the cross-border payments firm now has a green signal from the court to take time to respond to SEC regarding redactions it had made to the minutes of meeting with other third parties.

The SEC is allowed to make redactions to four sets of documents related to Ripple’s case.

Also Read : Ripple vs SEC : The Month April Looks Decisive For The Lawsuit ! Here Is Why ?

As per James K. Filan’s tweet, the United States Securities and Exchange Commission (SEC) has been ordered by the judge to provide redaction documents to Ripple defendants by 30th March 2022 and the defendants are supposed to respond to the redactions provided by 4th April 2022.

Initially, last week it was the SEC that filed a motion to redact a portion of key documents which also included the notes from its meetings with third parties. As per SEC, the notes hold the protection from deliberate process privilege (DPP), a common-law principle that protects internal agency information.

Ripple, An Opportunity For Payments!

The Ripple community members have a lot to say regarding the ongoing Ripple vs SEC case. John Deaton, CryptoLaw founder, does not expect the Ripple case to get settled in March. Another member, lawyer Jeremy Hogan had earlier expected the case to settle in April. But recently he tweeted that his expectation has been shifted to September/October.

Recently, Goldman Sachs, the Investment Banking Division mentions that along with Circle (USDT stable issuer) and Coinbase exchange,  Ripple’s network is an opportunity to make payments. There are around 300 RippleNet customers around the world who have several On-Demand Liquidity (ODL) corridors. These ODL allows easy conversion of currencies using XRP when conducting remittances & international payments.