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SEC files final response in Ripple XRP case

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The SEC advances in the Ripple lawsuit and challenges claims of no uncertainty over XRP’s status. Ripple refutes liability and SEC disputes and anticipates future violations. Alderoty criticizes the SEC’s approach and sees a resolution by September.

Ripple Labs and the United States Securities and Exchange Commission have made major progress in their legal battle, with the SEC taking a step forward by filing its final reply in the lawsuit’s remedies phase.to the remedies brief, the SEC challenged Ripple’s assertions that the blockchain startup acted without recklessness and that there should be no “widespread uncertainty” about XRP’s legal status despite the court previously rejecting this “fair notice” defense.

According to the remedies brief, Ripple has tried to downplay its liability while highlighting its cooperation with the U.S. SEC since the 2013 XRP initial coin offering . The SEC argues that Ripple’s assurances about changing its behavior post-lawsuit do not justify avoiding injunctions. According to the SEC, Ripple’s claims of following legal guidance and restructuring future XRP sales based on the lawsuit’s order are misleading. The SEC contends that Ripple misinterprets the order and fails to accept its implications for compliance.

 

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