In the ongoing legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, both parties are asking for a timeframe for sealing case-related material.
The lawyers have requested that US District Judge Analisa Torres designate January 4, 2023, as the deadline for non-parties to make sealing arguments prior to a summary judgement, according to a request made on Twitter by crypto legal specialist James K. Filan.
The due date for the filing of individual motions to seal relevant evidence in this matter is the 22nd of December.
The SEC first filed a lawsuit against Ripple in late 2021, alleging that the payments company offered XRP as unregistered securities.
Filan has said in the past that he believes the court would decide the sealed matters at the same time she writes her summary ruling.
A speech by William Hinman, the former Director of Corporate Finance at the SEC, has attracted a lot of interest, but any documents relating to the speech, such as drafts and internal emails, must stay under seal until the lawsuit is resolved. When the court determined that SEC must hand over the documents, Ripple won a major legal win.
In his talk from 2018, Hinman argued that ETH does not qualify as a security. Numerous prominent figures in the cryptocurrency business, including leading US exchange Coinbase, have submitted amicus papers in favour of Ripple.
Also Read: Ethereum Developers Plan To Enable Staking Withdrawals In March 2023
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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