Ripple It has attacked the Securities and Exchange Commission (SEC) for trying to conceal the identity of the agency’s expert witness in an ongoing lawsuit between the two sides.
Ripple claims the SEC’s insistence on trying to conceal the identity of the witness was unprecedented, according to a statement released by the SEC.noteTo U.S. District Judge Analisa Torres on July 10.
“The SEC’s efforts to protect personal data and expert opinions from public scrutiny are unprecedented. which violates the right to access material material that will be important to a court decision.”
Ripple’s argument
According to Ripple, the judge should dismiss the SEC’s request, alleging that the regulator was trying to publicly cover criticism of the experts’ opinions, with Ripple adding that SEC experts had no confidential information if they were to be filed with the courts.
Thus, Ripple wants the SEC to provide confidential information to the court and asks the judge to allow both parties to argue before deciding on the next step.
The expert was identified as the key witness in the case. After the SEC sued Ripple and top executives for conducting an offering of $1.3 billion in unregistered securities through a token sale. XRP
However, Ripple has denied the allegations, insisting that XRP tokens are legally traded as cryptocurrencies.
There may be threats to witnesses.
This comes after the SEC identified a fourth expert, identified as Patrick Doody, received threatening messages on social media. Analysis of Token Buyers’ Expectations in Agency Cases on Telegram Group
However, ever since the SEC started moving, the lawsuits have continued. Legal experts noted that Ripple may have emerged victorious after several minor verdicts favoring the company.