The post Ripple Lawsuit News: SEC Opposes Emergency Request for ‘Decisive Evidence,’ Calls It Unnecessary appeared first on Coinpedia Fintech News
The long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has officially come to an end, as confirmed by Ripple CEO Brad Garlinghouse just a few days ago.
While the announcement was met with celebrations among Ripple supporters and the broader crypto community, the XRP price failed to react as positively as expected. This muted response has led to growing anticipation and calls from XRP enthusiasts for an official statement or confirmation from the SEC.
Adding to the intrigue, an unusual filing recently appeared in the SEC vs. Ripple docket. A man named Justin W. Keener submitted an emergency request seeking to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”
The letter, however, left many questions unanswered. It doesn’t clearly specify what the so-called ‘decisive evidence’ entails or how it would benefit Ripple’s case. Keener hints that the evidence may relate to physical investment contracts he has been collecting, though details remain scarce.
In response, the SEC has filed an opposition to Keener’s request. According to Fox Business’ Eleanor Terrett, the SEC argues that the motion should be denied for several reasons. First, they claim the District Court no longer has jurisdiction over the matter since the case has moved to the Second Circuit.
Second, they assert that Keener failed to file the proper motion to intervene in the case. Lastly, the SEC contends that the request is unnecessary because Ripple is fully capable of deciding for itself whether the evidence in question could be helpful.
The SEC is now asking Judge Analisa Torres to dismiss Keener’s request entirely, arguing that it holds no legal standing and that the case has already reached a conclusion.