SEC and Ripple Advocates, who share their views based on developments in the litigation between the two, believe the regulator, the SEC, is employing delaying tactics. Ripple’s lawyers stated that they opposed the SEC’s improper request.
The lawsuit against payments giant Ripple has raised concerns among XRP holders. The US regulatory watchdog filed for a ‘Sur-Sur-Reply’ on February 23, 2022, regarding a move to Fair notice defense.
Backers reviewed the new update in the lawsuit filed against payments giant Ripple and shared that they believe the regulator is using delay tactics. Ripple’s lawyers believe the SEC is misleading in characterizing previous enforcement actions on cryptocurrencies.
On February 10, 2022, Ripple’s lawyers SECA Sur-Reply presented the “Fair Notice Affirmative Defense” to the movement to strike. The payment giant’s goal is to challenge the regulator’s request for improper legal service.
Ripple’s response to the SEC’s actions was a positive defense, claiming that Ripple’s unregistered offerings and sales of digital assets do not constitute fraud.
Acting as a defense attorney and Ripple advocate James Filan recently tweeted Ripple’s response to the SEC’s update on the case.
#XRPCommunity #SECGov v. #Ripple #XRP SEC files request to file Sur-Sur-Reply regarding Motion to Strike, citing SEC v. LBRY decision in which New Hampshire federal judge granted judgment on the pleadings on an unrelated selective enforcement defense.https://t.co/zbEXz7K53Y
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 22, 2022
Ripple’s lawyers responded to the SEC’s update within hours. The filing was expected to delay the outcome of Ripple’s lawsuit against the SEC; however, the regulator sought to present new material and an argument based on a pre-agreed case.
Proponents note that a trial would present a different outcome to the SEC and LBRY lawsuit.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.