{"id":31881,"date":"2022-07-11T05:23:22","date_gmt":"2022-07-11T09:23:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31881"},"modified":"2022-07-11T05:23:28","modified_gmt":"2022-07-11T09:23:28","slug":"ripple-lampoons-sec-for-unprecedented-request-in-recent-response","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-lampoons-sec-for-unprecedented-request-in-recent-response\/","title":{"rendered":"Ripple Lampoons SEC For Unprecedented Request In Recent Response"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-following-litigation-against-ripple-by-sec-ripple-s-legal-team-believes-that-the-commission-lacks-tenable-evidence-as-it-continues-to-make-its-information-shrouded-in-secrecy\">Following litigation against <a href=\"https:\/\/coinscreed.com\/staging\/ripple-hires-2-new-lawyers-over-sec-lawsuit.html\">Ripple<\/a> by SEC, Ripple's legal team believes that the commission lacks tenable evidence as it continues to make its information shrouded in secrecy.<\/h5>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"536\" data-id=\"31883\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-1024x536.webp\" alt=\"\" class=\"wp-image-31883\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-1024x536.webp 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-300x157.webp 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-768x402.webp 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-150x79.webp 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-750x393.webp 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1-1140x597.webp 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>Ripple responded angrily to the SEC's request to seal its response to an amici motion relating to the Daubert case. The Ripple team told Judge Torres of the Southern District of New York that the facts do not support the SEC's assertions. According to <a href=\"https:\/\/coinscreed.com\/staging\/ripple-eyes-initial-public-offering-ipo-than-replacing-swift.html\">Ripple<\/a>, the factual record in the pending SEC request does not warrant the extraordinary relief.<\/p>\n\n\n\n<p>After requesting that information regarding Expert 1 be sealed, the SEC then requested that the sealing be extended to three other experts. Not only does the commission want their identities and associated information kept private, but it also wants any motion concerning the substance of their reports kept secret. This will continue until the motion concerning the first expert is settled.<\/p>\n\n\n\n<p>According to Ripple, the purpose of the Daubert motion is to call into doubt the dependability and admissibility of an expert report. According to the SEC's request, the full motion for the four experts must be filed and kept sealed. The crypto company condemned the SEC's actions as <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1546314854658629632\/photo\/2\" target=\"_blank\" rel=\"noreferrer noopener\">violating the public's right<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> to access relevant materials.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>&#8220;The SEC\u2019s attempt to suppress criticisms of its expert opinions is particularly egregious. Given that none of the SEC\u2019s expert reports is likely to contain SEC confidential information. The only confidential information is internal information about Ripple itself and third parties.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n<p>The actions of the Securities and Exchange Commission were termed as &#8220;unprecedented&#8221; and &#8220;unsupported&#8221; by the Ripple team. Ripple emphasized that the commission's efforts to protect identities and viewpoints from public scrutiny are not supported by evidence. The SEC briefed the court last month about leaving to file an amicus rebuttal, which Ripple urged be made public.<\/p>\n\n\n\n<p>However, the court directed the SEC to present its argument for why the data should be sealed. The court directed the SEC to submit its case for sealing by June 14 without additional delay.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following litigation against Ripple by SEC, Ripple&#8217;s legal team believes that the commission lacks tenable evidence as it continues to make its information shrouded in secrecy. Ripple responded angrily to the SEC&#8217;s request to seal its response to an amici motion relating to the Daubert case. The Ripple team told Judge Torres of the Southern [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":31883,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-31881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/ripple-vs-SEC-1200x628-1.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31881"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31883"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}