Court Accepts Ripple’s Request to Review SEC’s Videos About XRP

The SEC and Ripple Labs case is still underway despite more than a year of the trial process. XRP, the native token that has been purported to be digital security and a violation of the Securities Act, is still operational.

The latest development in the case is something interesting and seems to be a bucking move. The presiding judge on the case, Sarah Netburn, has granted permission to allow the defence lawyers to review footage of SEC staff.

The defence can now issue two subpoenas from the court to get verification about seven video recordings of SEC officials. The videos contain the statements made by SEC officials on various public occasions. The move from the defence is an effort to counter the attempt of the SEC to reopen discovery and prolong the duration of the case once again.

Latest Ripple’s Move Against SEC

James K. Filan is one of the lawyers from the team of Ripple defence team. He explained that Ripple is seeking authentication and verification about the video evidence related to the video evidence. He also explained that the prosecution is bound to follow the detailed procedural objections to comply with the latest court ruling.

On the other hand, SEC had demanded that it would only provide authentication if Ripple could provide them with a downloaded version of these videos. At present, the videos under question are present on two video hosting platforms. Defence lawyers have also clarified that subpoenas in question are not about discovery and do not grant freedom of lengthy period for compliance.

Sarah Netburn, the presiding judge on the matter, has also waived the claims of SEC that Ripple Labs is attempting to reopen discovery. The remark has been confirmed by Ripple lawyer James Filan. SEC and Ripple Labs case has been in court for more than two years.

Following the SEC investigation into XRP and Ripple Labs, the token was immediately delisted from all major cryptocurrency exchanges. At the same time, Ripple has stabilized its position as one of the top 10 cryptocurrencies in the world by market cap. XRP is now native to XRP Ledger, and it currently trades at $0.3693 after gaining 4.6% in the last 24 hours, as per the latest statistics from CoinMarketCap.

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