Breaking: SEC Will Produce Documents to Ripple Tomorrow
In yet another win for popular blockchain company Ripple, the court has granted its request for extra time to file a response to the Securities and Exchange Commission’s motion to redact certain documents.
James K. Filan, who has been vocal about the SEC v. Ripple lawsuit, confirmed that the blockchain company received the positive news via a Text Only Order communicated to its lawyers recently.
“The SEC is directed to produce the redacted documents for Defendants’ assessment by March 30, 2022.”
Per the directive, the SEC has been mandated to produce the redacted documents for Defendant’s assessment by tomorrow, March 30, 2022.
In a motion filed by Ripple last week, the company noted that once it receives copies of the redacted documents, it will analyze and determine whether the SEC needs to conduct any redaction to the documents.
With the court mandating the SEC to produce redacted documents for Ripple’s analysis, Defendant’s response is expected to be filed on or before April 4, 2022.
The lawsuit, which has lasted for more than a year, appears to be gearing up for its end, as indicated by Ripple in a recent court filing.
Last week, the SEC took advantage of January 13, 2022, Deliberative Process Privilege (DPP) ruling to file a motion requesting permission to redact certain portions of selected meeting notes between the agency and third parties.
The SEC cited concerns that the portions it wants to redact highlight the author’s personal opinion instead of public guidance
Goldman Sachs recognizes Ripple as “opportunity for payments”
The Investment Banking Division of the Goldman Sachs giant recently mentioned Ripple’s network as an opportunity for making payments, along with Circle (USDC stablecoin issuer) and the publicly-traded Coinbase exchange.
The report of the U.S. banking giant highlighted RippleNet—a network build by Ripple Labs for banks, remittance companies and other financial institutions and payment service providers. RippleNet has over 300 customers around the world with several On-Demand Liquidity (ODL) corridors that allow seamless conversion of currencies using XRP when conducting remittances and international payments.