• Ripple Labs and the U.S. Securities and Exchange Commission (SEC) are currently in a legal battle.
• All documents and reply briefs have been submitted and now it is up to Judge Analisa Torres to make a decision.
• The SEC has filed an objection to a request by “Third Party A” to redact all references to the company and the names of certain crypto trading platforms.
The legal battle between Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) is currently ongoing, with no further deadlines currently scheduled. After two years of legal proceedings, all documents and reply briefs have been submitted and it is now up to Judge Analisa Torres to make a decision based on all the arguments presented.
The SEC has filed an objection to a request by “Third Party A”, an entity declared as an “Investment Banker Declarant”, to hide his name, the company name and his position in it, as well as to redact all references to the company and the names of certain crypto trading platforms. Ripple, in turn, has also filed an objection to this filing.
The situation has sparked much debate within the XRP community, with many waiting to see how the judge will decide on the issue. Ripple CEO Brad Garlinghouse recently commented in an interview at the World Economic Forum in Davos that no one knows how many months it will take for the judge to make a decision, but he is optimistic that sometime in the coming single digit months, the case will be resolved.
At the same time, Garlinghouse is confident that the emails between Ripple’s former general counsel, Brynly Llyr, and former SEC official William Hinman will bring to light the reasons for the SEC’s actions. While the outcome of this case remains to be seen, one thing is certain: it will have a major impact on the future of the cryptocurrency industry.