Ripple Seeks To Prolong Litigation SEC Accuses

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The SEC has filed its answer response supporting its movement to guarantee an interlocutory allure in the Ripple case.

In the response, the SEC claims that while it has an institutional interest in productively settling the case, Ripple has an alternate objective.

Besides, the commission blamed Ripple for looking to delay the lawful tussle to keep selling XRP to the public business sectors.

According to the SEC:

“They (defendant) sek to prolong this litigation (as they have already promised to do) presumable so that they may continue selling XRP into public markets (as they tacitly admit)”

Ironical Claim By SEC

Curiously, ironically the SEC is blaming Ripple for trying to prolong the lawsuit when it has been the one utilizing defer strategies all through the prosecution.

As announced before, Ripple featured the SEC’s defer strategies during the legal tussle for the drafts of William Hinman’s disputable discourse.

Read Also: Bitboy’s Bullish Stance on XRP Amid SEC Appeal Timeline

The fact that the SEC v spreads the word. The swell claim actually has irritating issues, particularly the commission’s argument against Ripple executives Brad Garlinghouse and Chris Larsen.

In any case, in its movement to ensure an interlocutory allure, the SEC requested the court to maintain further procedures from the lawsuit until the goal of the appeal.

Eminently, the court has previously booked the case for a trial by Q2 2024. Hence, in the event that the court concedes the SEC’s solicitation for a stay of additional procedures, the trial will be delayed until the interlocutory allure is totally settled. The move would additionally postpone the goal of the lawsuit.

The Reaction Of XRP Lovers

In the meantime, XRP and Ripple fans have taken to the X stage to respond to the SEC’s allegation against Ripple.

In a tweet yesterday, Ripple’s On-Demand Liquidity (ODL) engineer Neil Hartner appeared to be shocked by the SEC’s accusation.

Another XRP Community member describes SEC’s accusation as “Classical”

 


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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
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