New Development in SEC-Ripple Drama Raises Eyebrows

Ripple’s longstanding battle with the U.S. Securities and Exchange Commission (SEC) seemingly came to a long-awaited end in March after the company dropped its cross-appeal.

Last week, however, a new development emerged in the case, with a man named Justin W. Keener filing an emergency request to submit “decisive evidence” in favor of Ripple. He claims that the data and information that he holds could be of “tremendous interest and value” to the defendants in this particular case as well as the broader crypto industry. 

Keener does acknowledge that the request was highly unusual, but he insists that the data is of “the highest importance” without going into specific details. 

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The SEC has expectedly filed an opposition to the odd emergency request. The agency claims that the request is “improper” because the case has moved to the US Court of Appeals for the Second Circuit. Hence, the Southern District Court of New York lacks jurisdiction over the aforementioned request. 

The agency has noted that Keener has not filed a motion to intervene in the case. Moreover, the request is deemed unnecessary since the filer can simply share the evidence with Ripple.

The U.S. has yet to officially announce that the Ripple case has been dropped. 

As reported by U.Today, Republican SEC Commissioner Mark Uyeda recently refrained from commenting on XRP’s legal status during his recent appearance on CNBC.