Ripple and SEC Request Court Date: Here’s That Date

With the American Securities and Exchange Commission SEC Ripple (XRP) A new development took place in the ongoing legal war between In the ongoing lawsuit, both parties requested a deadline for sealing the information in the lawsuit.

Crypto legal expert James K. Filan explained the details in a post he shared on his Twitter account. Lawyer, for both parties to seal January 4, 2023He announced that he wanted a date to be announced until .

#XRPCommunity #SECGov v. #Ripple #XRP Parties request that the Court set a deadline of January 4, 2023 by which non-parties must ask to seal any portions of the Summary Judgment Materials or else waive any objections to the Court’s ruling on the Parties’ sealing applications. pic.twitter.com/J16zv6URDp

— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 9, 2022

“The parties asked the tribunal to set a deadline for non-parties to seal portions of the Summary Judgment Material by January 4, 2023, or to set a deadline for waiving any objections.”

According to official court documents SEC and XRP parties have until 22 December 2022 to submit their own sealing motion.

Why Did the SEC Sue Ripple?

The SEC filed a major lawsuit against Ripple in the last months of 2020, alleging that the XRP token was sold unregistered despite being a security. Although many documents and records emerged in the legal process, the event that caused great success stemmed from a former SEC executive.

It turned out that William Hinman, one of the former executives of the SEC, did not classify another cryptocurrency, Ethereum, as a security in 2018, according to the documents. Ripple side wants to be acquitted of the lawsuit by putting forward this argument.