SEC Accuses Ripple Of Slowing Lawsuit
The U.S. Securities and Exchange Commission (SEC) recently filed a court document in support of a motion to certify an interlocutory appeal. The document is a memo in which the SEC asks the appellate court to take up its ongoing legal case against Ripple.
James Filan, a well-known defense attorney, shared the news on X that The SEC has accused Ripple Labs of deliberately prolonging the legal dispute to maintain the sale of XRP in public markets, claiming they lack institutional interest in resolving the lawsuit. The SEC’s statement stated that the defendants seek to prolong the litigation to continue selling XRP in public markets.
Ironically, despite the SEC’s reputation for using delay strategies, the regulator accuses Ripple of trying to drag out the lawsuit. Ripple previously called attention to the SEC’s use of delaying strategies when disclosing draughts of William Hinman’s speech.
Expectedly, XRP and Ripple supporters disagreed with the accusations made by the SEC against Ripple.
(With inputs from Shikha Singh)
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