The post The Developments After the Trial’s Start appeared on BitcoinEthereumNews.com.

TL;DR Ripple and the SEC have been in a significant dispute involving key witness testimony from Andrea Fox. The entities have also clashed over the sealing of certain financial documents, with the regulator viewing this data as critical to the case. The Clash Over Key Testimony The infamous legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing since December 2020. Back then, the regulator accused the firm of raising over $1.3 billion via unregistered securities offering by selling XRP.  The lawsuit experienced countless ups and downs in the last years before reaching its trial stage on April 23, 2024. Shortly after that date, Judge Sarah Netburn signed a new scheduling order focused on the motion for remedies and entry of final judgment.  Both parties abided by the rules, handing in necessary documents and presenting essential data that could be useful for resolving the case. The process could have been smoother, with Ripple and the SEC clashing over a key witness testimony from Andrea Fox. The company initially argued that the declaration represents an unsolicited expert opinion, whereas the watchdog described the process as “standard summary evidence in support of calculations for disgorgement.”  On April 29, the SEC filed an official opposition to Ripple’s motion, insisting that the testimony “does not rely on specialized experience and does not render any opinions at all.” “Rather, it applies basic arithmetic to Ripple’s financial records to streamline the presentation of the evidence to Judge Torres… The court should deny Ripple’s motion,” the agency added.  Ripple struck back a few days later, filing a letter in further support of its initial request. It claimed that the SEC failed to show that the declaration is summary evidence rather than expert testimony: “Fox is an expert because she purports to use technical…

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Filed under: News - @ June 8, 2024 5:20 pm