U.S. judge Sarah Netburn approved Ripple Labs’ motion to issue two subpoenas to authenticate seven videos in which U.S. Securities and Exchange Commission officials gave public statements.
The judge’s decision is in response to the Ripple motion, seeking permission to serve two subpoenas that are not party-related to get videos of seven recordings as part of the court’s June 19 order.
The request of Ripple was an in-reply to SEC seeking to reopen discovery and request an exemption from authenticity as well as other procedural oppositions to the agency’s video, as the tweet from defense attorney James K. Filan showed.
The SEC said it would seek to validate the statements after a time. Ripple offers downloads containing the SEC videos stored on two different video platforms. Ripple stated that the subpoenas it sought to serve were not an attempt to reopen discovery and were not a time-frame issue.
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In December of 2020, the SEC brought a lawsuit against Ripple, claiming that the sale of XRP was unregistered security offering worth more than US$1.38 billion. The SEC also listed Ripple’s executive chair, Chris Larsen and CEO Brad Garlinghouse as co-defendants in the case for aiding and abiding by Ripple’s illegal activities.
XRP, the native currency from the XRP Ledger, is a private blockchain protocol developed by Ripple Labs. Ripple is popular for its revolutionary global payment settlement system that offers fastest across the border payment transfer at meager fees.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.