The XRP lawsuit has gained more traction than it should have since its beginning.
Now, it’s safe to say that those involved in the cryptocurrency industry are accustomed to a volatile market. Even legal proceedings continue to experience weekly new innovations in addition to cryptocurrency tokens. In this instance, the Daubert challenge edition of the ongoing legal dispute between the SEC and Ripple.
In a document, the SEC submitted its request to seal a record related to the Daubert challenge. This action follows the evidence of Patrick B. Doody, an expert SEC witness, who discussed the data that “reasonable” XRP holders used to support their purchase of the cryptocurrency.
Naturally, as the story goes, Defendant disagreed with the majority of the SEC’s suggested revisions. Plaintiff wanted to impose an “unprecedented level of secrecy on these proceedings by sealing all identifying information in the Daubert Motions regarding its five proffered expert witnesses,” which Ripple and other defendants opposed.
In a tweet today, attorney James Filan noted this development.
“They would completely obscure the identity, educational background, employment history, publications, and professional affiliations of all of the SEC’s proffered experts from public view despite such information being central to the resolution of the parties’ Dauber Motions, and despite some of that information already being public.”
The SEC provided no examples. In actuality, according to the petition, “Defendants are aware of none, where a court sealed the identity and qualifications of an expert witness in the context of deciding a Daubert motion.” Therefore, the Court should decline the offer to make history.
Apart from Plaintiff’s conjectures, the evidence at hand, according to XRP’s executives, suggested that disclosing the experts’ identities would not have the previously mentioned effect.
Instead, the SEC’s argument for the motion, according to Ripple, opposed three of Judge Netburn’s rulings in a single brief.
SEC’s objection to XRP’s motion to seal
As much as XRP supporters praised this legal dispute, the plaintiff was prompt to recognize it and answer. In connection with the expert challenges, the SEC filed a response opposing the Ripple Defendants’ motion to seal the document.
Five kinds of information presented in connection with the parties’ motions were targeted for sealing by the defendant. This includes financial information about Ripple and the conditions of a few agreements the company has with other parties. Identity of third parties, information on former Ripple employees, and certain personally identifying data.
The crowd appeared to be angry and annoyed by SEC’s constant responses. However, Jeremy Hogan, another lawyer, supported one of the important Defendant’s representatives.