SEC v. Ripple: Judge greenlights investment banker declarant’s entry

In the most recent update in the legal procedures of the United States Securities and Exchange Commission (SEC) versus Ripple Labs, Judge Torres grants approval for a financial investment lender declarant to make a look. According to a court filing, Judge Analisa Torres approved permission for Andrew A. Kunsak from the law office Sidley Austin LLP to work as an investment banker declarant in the continuous suit of U.S. SEC v. Ripple Labs.Previously, Ripple had challenged a similar look by an investment banker declarant associated with the law office that supported the U.S. SECs position, prompting issues among the offenders.”Andrew A. Kunsak of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, a member of this Court in excellent standing, thus respectfully goes into an appearance for Investment Banker Declarant in the above-captioned action.”In an effort to prevent the divulgence of sensitive details according to a previously sealed court directive, the court looks for to attend to problems connected to orders that rejected the SECs plea to seal the Hinman speech documents, in addition to Ripples request to seal info concerning XRP sales, including institutional and programmatic sales. Screenshot of the notice of look for the financial investment banker declarant. Source: Court ListenerThe financial investment lender declarants objective is to protect their stakeholders due to the SECs intent to challenge Judge Torres summary judgment decision.The SEC has sent a motion seeking an interlocutory appeal concerning Judge Analisa Torres decision that programmatic sales of XRP do not fall under the classification of securities according to the Howey Test. In addition, the regulatory body is requesting a suspension of continuous procedures till its concerns are fixed through court clarification.Related: SEC hold-ups set due dates for Bitcoin ETF approval to early 2024Meanwhile, Stuart Alderoty, primary legal officer at Ripple, clarified that the organization is solely pursuing court permission to lodge an appeal and is not planning to challenge the ruling on XRPs classification as a security.Over the previous 24 hours, the worth of XRP has actually reduced by 3%, currently standing at $0.60. Gather this post as an NFT to protect this minute in history and reveal your assistance for independent journalism in the crypto space.Magazine: Crypto policy: Does SEC Chair Gary Gensler have the final say?