Ripple Objects To SEC’s Request For Redacted Declaration In XRP Litigation

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Ripple Labs, Brad Garlinghouse, and Chris Larsen, named defendants in the XRP litigation, sent a letter objecting to the request made by the SEC’s Investment Banker Declarant to redact his statement in the case. 

As James K. Filan revealed, the declarant had requested that his personal information, including his name, roles, and employer, be kept private from the general public. 

Ripple argues that as the declarant himself supported the SEC’s motions for summary judgment by filing a declaration, he has no basis to ask for his information to be concealed. As such, the company has requested that the court require the SEC supporter’s statement to be publicly filed.

Garlinghouse Lashes Out At The SEC

In an interview with CNBC on January 18th at the World Economic Forum in Davos, Switzerland, Ripple CEO Brad Garlinghouse stated that the verdict in the SEC v. Ripple lawsuit may be reached as early as June, but no later than September. 

He also criticized the SEC’s behavior, calling it “embarrassing” and claiming that the regulator had deceived the company by filing litigation after three failed attempts to clarify regulations with them. 

Garlinghouse emphasized that Ripple will only settle if it is made clear that XRP is not a security, and acknowledged that the outcome of the lawsuit has significant implications for the cryptocurrency industry.