RIPPLE LAWSUIT: MoneyGram Files Motion To Redact Documents
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January 5, 2023 9:43 am
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The Ripple V SEC lawsuit continues to rage…
MoneyGram recently filed a motion to seal sections of documentation and materials from both the SEC and Ripple Labs’ summary judgment filings:
Just a reminder: it’s on the schedule! Non-parties must file what they want to be redacted by the end of today. pic.twitter.com/jkyL6wG8tc
— Sherrie (@CherryEmpress21) January 4, 2023
Trending: Ripple Spells Out Penalty Terms To SEC
Officially, MoneyGram claims that it seeks to seal and redact the documents to protect employee privacy and businesses that fall under its header.
In 2019, a partnership between Ripple Labs and MoneyGram ensued and was widely reported as a major milestone for the blockchain firm.
MoneyGram has since made millions off of the deal, but suspended trading in February 2021 due to the ongoing lawsuit from the Securities and Exchange Commission.
Here’s what we currently know:
Cross-border payments company MoneyGram asked the court to seal portions of the summary judgment records in the Ripple vs SEC case citing privacy reasons https://t.co/xowMQXXGRH
— crypto.news (@cryptod0tnews) January 5, 2023
According to Forkast:
MoneyGram said by sealing some of its documentation for the summary judgment – a type of judgment typically delivered on the basis of statements and evidence without a full trial – it hopes to protect business information and employee identities.
6. MoneyGram
MoneyGram is one of the premier partners of Ripple as it is one of the few payment firms that utilize the XRP liquidity pool. Announced the partnership in June 2019 #XRP #Ripple— TheJazz_web3 (@w_thejazz) January 4, 2023
Bitcoinist reported in 2020:
In its recently filed annual report to the U.S. Securities and Exchange Commission MoneyGram reports $11.3 million in revenue as a result of its Ripple partnership. Ripple Labs pays the remissions company as an incentive to use RippleNet in its operations.
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