Ripple Vs SEC Lawsuit: SEC Says It Doesn’t Require Any Additional Discovery Against Ripple

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In recent days, the US Court of Federal Reserve ordered the Securities and Exchange Commission to submit the email drafts of the commission’s former director William Hinman. The SEC had also claimed that these documents are being protected by DPP but was denied by the court.

Now, the latest update in the ongoing Ripple vs SEC lawsuit says that the US Securities and Exchange Commission (SEC) has filed a letter that claims that the commission does not require any additional discovery now

The SEC Advances In The Case

Former Federal prosecutor, James K Film who has been following the case, presents a letter that states both the parties still have the right to claim for additional discovery. If necessary.

#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a letter stating that it does not seek to take additional discovery at this time, but both parties reserve their rights to take discovery limited to the disgorgement issue, if necessary, after liability is decided. pic.twitter.com/YQHIbTJQHS

— James K. Filan 90k+ (beware of imposters) (@FilanLaw) April 15, 2022

It’s been two years that the case between Ripple and SEC is going on and yet no one knows how long will the case proceed as there is no deadline for the case, but with the filings by SEC, the community hopes for the potential trial to proceed soon.

Interestingly, this filing from the SEC popped up after the court objected to any reconsideration regarding the deliberative process privilege (DPP) ruling.

Ripple Looks More Optimistic

Ripple has had several rulings that have constituted a big win in the continued case against SEC and with these positive things, Ripple, a cross-border payment firm seems to be more confident than ever. In a recent interview with CNBC, Brad Garlinghouse, Ripple CEO claims that so far the case has gone better than expected.

The joint proposed scheduling order will be held by next week i.e April 22, 2022

At the time of reporting Ripple’s native coin, XRP price is changing hands at $0.788 with a surge of 2.08% over the last 24hrs.