Ripple XRP Vs. SEC Update:
A court filing shows that the Commission filed its letter brief in opposition to Ripple’s motion to seal on May 20. Ripple had filed the motion on May 13 in line with the scheduling order, which stipulated that date as the deadline for both parties to file a motion to seal any document related to the remedies stages
Ripple had revealed in their May 13 filing that they had consulted with the SEC before making the sealing requests. The crypto firm further claimed that the Commission “indicated that they consent to certain of Ripple’s requests, but intend to oppose others.” Therefore, based on that revelation, the Commission will likely agree to some of Ripple’s quests.
The cause of Ripple’s legal woes against the SEC has been the lack of regulatory clarity for the crypto industry in the US. However, that is about to change soon enough, as the US Congress will soon vote on the Financial Innovation and Technology for the 21st Century (FIT21) bill, which would provide regulatory clarity for crypto companies.
