{"id":3253,"date":"2021-05-02T13:03:29","date_gmt":"2021-05-02T12:03:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3253"},"modified":"2021-05-02T13:03:34","modified_gmt":"2021-05-02T12:03:34","slug":"mou-drama-as-xrp-and-sec-fighting-to-nailed-themselves","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mou-drama-as-xrp-and-sec-fighting-to-nailed-themselves\/","title":{"rendered":"MoU: Drama as XRP and SEC fighting to nailed themselves."},"content":{"rendered":"\n
The long battle between the SEC v. Ripple<\/a> case is gaining attention daily with latest MoU. The court case is about to have a \u201cdiscovery battle,\u201d with the parties making avail evidence in other to push their case. Post this phase, the judge would take a call via a summary judgment.<\/h5>\n\n\n\n

The Major issue presently is whether the Memorandum of Understanding\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> between the United States government and the foreign governments was mandatory or voluntary. Recently, Ripple had accused the SEC of using \u201cextra-judicial tactics\u201d with its MOU requests.<\/p>\n\n\n\n

While the blockchain firm\u2019s response was received well by many in the community, according to presiding District Judge Sarah Netburn,<\/p>\n\n\n\n

\u201cMy understanding is that although the foreign company must comply with the request by its government, the foreign government does not have to comply with the SEC\u2019s request.\u201d<\/p>\n\n\n\n

Jeremy Hogan, a partner at Hogan and Hogan, was one of those to witness these proceedings, with the attorney claiming in a recent video,<\/p>\n\n\n\n

\u201cI think she was leaning towards allowing the SEC to continue with the requests because the handing over of the documents from the foreign government to the SEC is voluntary.\u201d<\/p>\n\n\n\n

During the said proceedings, Ripple\u2019s attorney countered the SEC\u2019s arguments by asserting that although there was some basis for not providing the documents, most parts of the requests were not voluntary, especially when smaller countries are dealt with by an economic giant like the USA.<\/p>\n\n\n\n

Hogan also revealed that the SEC had been very subtle about informing Ripple of its \u201cintent to use RFAs at the start of discovery.\u201d The SEC, he added, had to clarify that it meant \u201cRequests for Assistance,\u201d and not \u201cRequests for Admissions.\u201d<\/p>\n\n\n\n

Ripple\u2019s counsel also opposed the SEC\u2019s counsel using an old case with precedential value to make his case. According to the former, the said case was based on incorrect facts and did not have any persuasive authority.<\/p>\n\n\n\n

While Judge Netburn is yet to rule on any of these arguments, according to Hogan,<\/p>\n\n\n\n

\u201cRipple is on its back foot right out the box.\u201d<\/p>\n\n\n\n

He added,<\/p>\n\n\n\n

\u201cI guess that Judge Netburn will probably allow the SEC requests to continue, even though I truly feel that it is the wrong decision because the requests are De Facto demands.\u201d<\/p>\n\n\n\n

It should be noted, however, that Hogan did not rule out the possibility of Judge Netburn denying the motion in time.<\/p>\n","protected":false},"excerpt":{"rendered":"

The long battle between the SEC v. Ripple case is gaining attention daily with latest MoU. The court case is about to have a \u201cdiscovery battle,\u201d with the parties making avail evidence in other to push their case. Post this phase, the judge would take a call via a summary judgment. The Major issue presently […]<\/p>\n","protected":false},"author":63,"featured_media":2954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,24],"tags":[143,146],"class_list":["post-3253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripples-news","tag-sec","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/04\/Ripple-bounce-back-after-recent-victory-in-court..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3253","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\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3253"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/2954"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}