Crypto REGULATIONS NEWS
Another win for Ripple as court denies SEC’s motion to seal
The ongoing legal battle between the Securities Exchanges Commission (SEC) and blockchain company Ripple (XRP) has taken another twist after the presiding judge denied the regulatory agency’s motion to seal.
Court documents shared by Ripple defence attorney James Filan on June 9 indicate that SEC was also ordered to file a redacted version of the brief and exhibits as stipulated by the law.
The redacted version of the brief filing is set for a deadline of June 14 and will focus “only to the extent necessary to safeguard information sought to be filed under seal.”
“The Court also Orders that by June 14, 2022, the SEC shall file a letter explaining its proposed redactions and specifying which exhibits it seeks to seal. Essentially the Court agreed with Ripple and said that the SEC was trying to seal more than necessary,” said Filan.