While the Ripple SEC saga continues, the defendant has now filed an objection to the SEC’s motion and filed for a protection order.
Ripple wants to stop conference calls
Through a tweet, Ripple’s attorney and former Fed Attorney James K. Filan announced that Ripple has filed a motion to prevent the SEC from obtaining a protection order. The order, if issued, releases the SEC from its obligation to respond to Ripple’s submissions (RFAs).
Filan said Ripple had filed a motion opposing the agency’s request for a conference call requested with the intent to obtain a protection order that “releases the SEC from any obligation to respond to regulatory filings (” RFAs “) “.
Filan continues disputed The SEC’s suggestion that the RFAs are tedious and of little use, as it found that the RFAs are critical as they address the crucial facts that they (defendants) believe will not be contested and a true one The agency’s admission “will therefore limit the problems considerably”. for trial”.
Why are RFAs critical to Ripple?
For Ripple, RFAs are of paramount importance in many ways. Especially when it comes to their request for a “fair announcement”. Recall that the defendant previously filed a “fair notice” motion, arguing that the agency did not give Ripple, or any other relevant party, a fair notice of viewing XRP as a security before eventually bringing the lawsuit to court submits.
Ripple specifically made a statement showing that when a crypto exchange decided to list XRP, they discussed the token with the agency, sharing their view that the exchange likely did not consider XRP a security under the current Securities Act . Ripple argued that at some point the SEC has told the exchange that XRP is a security or an investment contract?