- Judge Torres approved XRP and SEC to file all materials relating to the summary judgment motions.
- On Sept 9, Ripple and the SEC confirmed a joint proposal governing the sealing issues.
- On Sept 19, the parties will file the edited versions of the briefs.
On September 12, Analisa Torres, the presiding judge in the Ripple (XRP) vs. Securities and Exchange Commission (SEC) lawsuit, gave the nod to the concerned parties to file all materials relating to the summary judgment motions.
The ongoing feud between the regulatory watchdog (SEC) and Ripple Labs continues to create headlines. On September 9, Ripple and the SEC confirmed a joint proposal governing the sealing issues.
Defense lawyer, James K. Filan, shared detailed motions for summary judgment on Twitter.
#XRPCommunity #SECGov v. #Ripple #XRP District Judge Torres has approved the parties’ joint scheduling proposal to govern sealing issues relating to the upcoming summary judgment motions. pic.twitter.com/Tm34kZwi2f
— James K. Filan 🇺🇸🇮🇪 111k (beware of imposters) (@FilanLaw) September 12, 2022
Notably, a negotiation process will soon begin in which lawyers for XRP and the SEC will discuss and edit the briefs. The filing procedure is expected to go on until the end of 2022.
On September 15, the parties will discourse to identify redactions to the briefs supporting the summary judgment motions. Later, on September 19, the parties will file the edited versions of the briefs. Both parties will lay bare their sides and present what they have. The crypto community anticipates this would be a historic day for the endgame.
A series of proceedings will take place through October and November, and by December 22, 2022, the parties are expected to file an opposition to omnibus motions to seal.
Earlier this week, the head of the SEC, Gary Gensler, made a statement that the crypto market is significantly compatible with securities regulation, and most cryptocurrencies already fall under the regulatory purview of the SEC. Gensler added that new support for a bill that would give the Commodity Futures Trading Commission (CFTC) an oversight of Bitcoin and Ethereum would be passed.
For the uninitiated, a motion for summary judgment is a request made by a party asking the court to summon the lawsuit without going to trial as there’s no dispute about the key facts of the case.
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