The US Security and Exchange Commission filed a new motion on Friday. It requested to seal some filings from the 12th of July. It is in line with the commission’s move to remove expert testimonies.
SEC Wants Its Experts Hidden
The filing stated that the SEC has met with the defendants and discussed with them. But the Commission still expects Ripple to oppose most of the proposals. They are expected to do so in conjunction with other defendants in the case.
In addition, the Commission asked to protect the identity of its witnesses. The Commission stated to the court that one of its witnesses received threats. This was after their name was made public by the lawyer.
The Commission asked to censor the names of every witness. It wants to also censor details like their education, contact, and other links to them. The proposal mentioned that the request is to give necessary security to witnesses.
The Security and Exchange Commission argued that is the major reason the court should grant its request. The letter also stated that the defendants are asking for permission to redaction. They want to censor the details of third parties with the development of Daubert’s motion.
The SEC has not stated an objection to the defendants’ application for name redactions. But it stated that if the court agrees to seal such details, then it will act accordingly.
Court’s Deadline for Non-Parties
The court has given a deadline for non-parties to move expert testimony seal portions. James Filan made it known that the court set the 28th of July as the deadline. This is also the time to wave any objection to the court’s decision on sealing applications.
The order considered that certain non-parties might not give redaction consent to either of the parties. They must file a letter latest by the 28th of July to explain such a decision.
The lawsuit between Ripple and the Commission has dragged on for a long time. It borders on regulatory disputes in the crypto market. The network’s XRP token suffered losses at the initial stage of the suit but it has since recovered.
The outcome of the suit will go a long way in defining regulatory involvement in the crypto sector. Not just in the United States but around the world.