SNEAK PEEK
- The SEC has recently filed a response to Ripple’s “fair notice” defense.
- Despite this uncertainty, Ripple’s native token, XRP, has experienced a 2% gain in the past 24 hours.
- The crypto community is eagerly awaiting further developments in the case.
Days after Ripple made a filing supporting their “fair notice” defense, the SEC has filed its response to the Ripple defendants’ recent filing supporting their “fair notice” defense.
According to the filing shared by James Filan, an attorney following the Ripple-SEC case closely, the SEC acknowledges and responds to supplemental authority presented in the Bittner and Voyager cases.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed its response to the Ripple Defendants’ Letters regarding Supplemental Authority from the Bittner and Voyager cases. pic.twitter.com/zVbPGbmMq0
— James K. Filan ???? (@FilanLaw) March 23, 2023
This means that the SEC is considering and addressing other legal precedents established in these related cases, according to experts. Using supplemental authority is a common legal strategy, as it allows for incorporating relevant legal rulings and precedents from other cases that may support a party’s arguments.
According to the SEC, the defendant contends that the related judgments support their “fair notice” defense, but neither does so. The SEC adds that neither of the decisions provides any basis to deny the SEC`s motion for summary judgment. The SEC insists:
Indeed, neither decisions even involve fair notice defense
Notably, the SEC’s response has ignited a crypto craze, with investors and enthusiasts eagerly anticipating the outcome of this ongoing legal battle. However, despite this uncertainty, Ripple’s native token, XRP, has experienced a 2% gain in the past 24 hours, according to data from Coinmarketcap.
This is a positive sign for Ripple supporters, who may interpret this as confidence in the cryptocurrency’s prospects. XRP is exchanging hands at $0.436599 with a 24-hour trading volume of $2.1 billion.
