What Are Ripple, SEC Opposing To Seal In Latest Motion? – Crypto News – Crypto News
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What Are Ripple, SEC Opposing To Seal In Latest Motion? – Crypto News

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XRP Lawsuit News: Ripple Defendants and the US Securities and Exchange Commission (SEC) filed their responses in opposition to each other’s Motions to Seal certain documents. These motions were filed in connection with the parties’ cross motions for Summary Judgment, However, disputed Hinman speech documents have again landed in the latest filing by both the parties.

SEC opposes sealing of Ripple 6 docs

The court filing reveals that the SEC submitted partial opposition to Ripple’s motion to seal several portions of the filing. It is mentioned that the defendants are seeking to seal over 900 documents completely.

The commission added that Defendants propose that redactions are somewhat appropriate in order to protect third parties’ privacy. While it mentions that it carries sensitive business information.

The SEC claims that many of the proposed redactions are too broad to overcome the presumption of public access. The US watchdog highlighted a court’s recent order which mentions that the presumption of public access is at its strongest when the materials are applicable to a court’s decision. Read More XRP Lawsuit News Here…

Ripple and the defendants want to seal around 11 categories of documents. However, the SEC is not opposing the sealing of 6 categories but will urge the court not to seal the remaining five categories.

Defendants slams SEC for still shielding Hinman docs

Ripple’s court filing reveals that the commission has continually shielded the names and identities of witnesses whose testimony the SEC intends to rely on from public view. However, the SEC is now seeking to hide ex-SEC Director of Corporation Finance William Hinman’s June 2018 speech from public view.

Defendants in the XRP lawsuit have used portions from the Hinman speech documents to support their summary judgment motion. The court determines those documents are relevant and as they are used in the motions for summary judgment, the SEC’s motion to seal them should be denied.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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