LIVESEC releases final response to Ripple XRP case
Ripple Labs and the US Securities and Exchange Commission (SEC) have made significant progress in the litigation, with the SEC filing a final response to the lawsuit.
In its recent response to the summary of remedies, the SEC disputed Ripple's assertion that the blockchain startup acted recklessly and that there should not be "widespread uncertainty" about the legal status of XRP
despite the court having previously rejected this "fair notice" defense.
The Securities and Exchange Commission (SEC) also maintains its position on whether Ripple will take similar actions in the future, although Ripple has not violated any rules since the XRP lawsuit brought in 2020.
According to the summary of remedies, Ripple attempted to downplay its liability while emphasizing its cooperation with the SEC since the XRP initial coin offering in 2013.
However, the SEC emphasized that according to the law, even if Ripple has refrained from violations since 2020, a new violation is still possible.
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