James Filan
Ripple files final submission against SEC as landmark case nears end
The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle. On Dec. 2 the SEC and Ripple both filed redacted replies to each other’s opposition to motions for summary judgment. Ripple argued in its motion document that the SEC has failed to prove that its offering of XRP between 2013 and 2020 was an offer or sale of an “investment contract” and therefore a security under federal security laws. Ripple concluded the document by stating that “the court should grant Defendant’s Motion and should deny the SEC’s Motion.” Stuart Alderoty, General Counsel of Ripple stated on Twitter on Dec. 3 that this is Ripple’s “final submission,” asking the court to “grant” judgment in its favor...
