Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => XRP - Ripple Forum => Other Popular Cryptos / Coins => Ripple News & Updates => Topic started by: Btceth01 on June 16, 2021, 07:19:58 PM
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The class-action lawsuit filed by the US Securities and Exchange Commission against Ripple has reached a crucial juncture. In today’s hearing, Judge Netburn granted SEC’s motion for additional depositions but denies request for documents posts dating the complaints along with Ripple’s lobbying efforts. The judge made it clear that Ripple’s fair notice defense centers on the activities of the SEC – it’s not about Ripple’s knowledge or behavior. The judge said,
Ripple focuses on the SEC’s failure to provide fair notice to the market about the Commission’s state of mind as to whether XRP qualified as security. It is not clear that such a defense even requires that a defendant act in good faith.”
The judge’s comments are significant and made it clear that the onus falls on the SEC as well. It shows that the SEC’s actions or failure to act could be brought into question for which they will be responsible for XRP.Source (https://cryptonews.net/811979/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)