As the crypto community awaits the final decision date in the case between blockchain company Ripple and the Securities Exchange Commission (SEC), the case continues to see new developments from interested parties.
In particular, the court granted a motion by lawyer Lewis Cohen to appear in the case on behalf of cryptocurrency venture capital firm Paradigm, defense attorney James Filan revealed in a statement. Tweet from December 28. Apparently, Cohen has filed a Motion to Appear Pro Hac Vice, which means he wants to be sued in the case and jurisdiction where he is not authorized to do so.
It should be mentioned that Paradigm participated in the recent small victory of Ripple in the case that made it clear that the blockchain company can win the case. In fact, Paradigm filed an amicus brief to support Ripple’s defense in the high-profile case.
Ripple v. SEC Update
As the case has reached its third year, both parties have filed closing papers, although the first rumors indicated that the case will be settled on December 15.
The regulator has come under fire for filing a motion to close several documents in the case. The SEC requires documents to be marked in the form of names and identifying information of SEC experts and journalists investing in XRP, personal and financial information, and internal SEC documents reflecting discussions and discussions of employees. SEC.
Some of the critics have accused the SEC of corruption for failing to support players like the now-defunct crypto exchange FTX. Meanwhile, in a prediction from pro-XRP lawyer John Deaton, a final decision can be made in April or May next year; Nicole Tatz, the attorney representing the defendants in the case, filed a motion to dismiss.
According to Tatz’s document, he pointed out that other lawyers at the law firm Cleary Gottlieb Steen & Hamilton LLP will continue to be counsel of record for Ripple CEO Bradley Garlinghouse. It is expected that the outcome of the case will have ramifications for the crypto sector, especially the value of XRP. Apparently, the SEC is accusing Ripple of illegally selling more than $1.3 billion of XRP tokens in the form of securities between 2013 and December 2020.
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XRP Price Analysis
Currently, XRP is trading at $0.35, settling more than 3% in the last 24 hours. In general, the sign is in the process of consolidation, unable to take important steps in any direction. In general, XRP investors can watch the performance of the token, since it does not interfere with the general market effect in addition to the case.