cryptocurrency

The Saudi Electricity Company is making every attempt to limit Ripple certificates

  • The Saudi Electricity Company requires court approval to disclose Ripple’s expert testimony.
  • The court had allowed the committee to take a step other than to testify.

According to a recent report by James K. Phelan in the ongoing Ripple vs SEC battle, the U.S. Securities and Exchange Commission (SEC) has issued a request to provide a lengthy statement of up to 90 pages in depth in support of its exclusion proposal. Or limiting evidence from ten testimonies that defendants hired at Ripple.

Defense attorney and former federal prosecutor James K. Phelan tweeted this;

The Securities and Exchange Commission asked Judge Annalisa Torres to allow responses on Wednesday. At the same time, there is a 15-page limitation for filing responses under court procedures in civil disputes, although the Securities and Exchange Commission has proposed a 90-page limit.

The steps of the Supreme Education Council towards rippling degrees

The Securities and Exchange Commission wants to leave and file one big statement, up to 90 pages long, per letter. She stated that the court had given the committee permission to make a move to exclude the testimony, which was up to 120 pages.

The Securities and Exchange Commission also stressed that the purpose of this request was to exclude the testimony of ten experts employed by the defendants. She added that the number of pages allowed for responses was not specified in the court ruling.

According to the commission’s statement, both Ripple and the defendants oppose their application. Also, they are looking for 11 pages per response feed in this kind of futuristic traffic. The SEC does not want to contest the defendant’s application.

In December 2020, the Securities and Exchange Commission (SEC) filed a complaint against Ripple, stating that the company participated in an unregistered service offering through which it sold XRPXRP Ledger, the original cryptocurrency created by Ripple Labs, has over $1.3 billion. Ripple’s CEO, Brad Garlinghouse, and CEO, Chris Larsen, are also accused by the Securities and Exchange Commission (SEC) of aiding and assisting Ripple’s criminal activity.

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