When it comes to SEC vs. Ripple, there is a cloud of excitement that follows, but the matter has been stretched thin for too long now that both people and the legal bodies are losing their patience, and they want to close it down as soon as possible.
There have been a few backs and forth movements in this case where it seemed as if Ripple was winning the case, and at times the scales tipped towards SEC. But now, the case has reached a critical point, and a request has been initiated by the legal counsel of Ripple to grant them access to the videos that SEC has in their custody.
SEC had earlier obtained multiple videos pertaining to the case without asking for an initial request or order from the judge to do so. SEC according to Ripple, wants to bury the firm under regulatory oversight and is pursuing regulation with the help of enforcement. It is nothing but a waste of time, according to Ripple, as SEC wants to go all the way to the introductory or discovery videos of the case.
It is nothing different than what the SEC did with Coinbase and Binance investigations saying that multiple offerings of both these exchanges are nothing but securities. It is almost SEC had a nightmare a few years back, and now it sees every digital asset in the light of being secure and not as a tradable asset.
SEC only wants to end Ripple and everyone who dares to challenge them in the open court. Now Ripple has requested the judge who is in charge of the case, Judge Sarah Netburn, to serve two non-party subpoenas for granting access to the discovery videos, which the SEC took without consent from Ripple.
SEC’s Relationship with Crypto
The CEO of Ripple stated on the matter that all the pertaining exchanges and crypto networks want to work closely with the SEC to solve any issues that are related to compliance or regulations, but this behavior of opening a witch hunt for all these entities by the SEC is plainly unacceptable.