finbold.com
Although there is no set date ruling for the high-profile case between blockchain firm Ripple and the Securities Exchange Commission (SEC), the matter is witnessing increasing attention from interested parties.
In particular, defense lawyer James Filan has revealed that the Investment Banker Declarant, a non-party in the matter, filed a motion seeking to redact a previous declaration supporting the SEC’s prayer for summary judgment. Notably, Investment Banker Declarant had earlier sought to join the case seeking to facilitate the SEC’s investigation of Ripple.
It is worth noting that a redact motion seeks to remove specific information from the case before its made public. In most cases, the motion is filed to protect sensitive or confidential information or to comply with legal requirements.
It is worth noting that XRP’s recent rallies have been inspired by positive development from the ongoing case. Currently, the ability to reclaim $0.35 comes as the general crypto market witnesses a minor bull run.
Overall, the case outcome will likely impact the value of XRP and the crypto market in general. For instance, a ruling in favor of Ripple might be bullish for XRP and vice versa.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.