XRP Lawsuit: Attorney Hogan Accuses SEC Of Not Authenticating Employees’ Speeches

August 4, 2022 9:09 pm

As the current Ripple vs SEC lawsuit continues to approach the two year mark, Attorney Jeremy Hogan has made a new point which may continue to strengthen Ripple’s defense.

In the past, it has been shown that Ripple has filed a request to authenticate speech recordings of SEC employees as it would be common sense that such speeches could contain essential information for the lawsuit.

However, as many within the crypto community expected, the SEC has not acknowledged any of the videos that have been submitted.

As a result, all of the videos that have been submitted remain unauthenticated which is strange due to the fact that authentication is a procedure that is highly common and regular for organizations like the SEC.

Hogan is claiming that this is basically the SEC playing around and obstructing progress for the lawsuit.

U.today reports:

Ripple filed a request to authenticate the speech recordings of SEC employees, including former commissioner Robert Jackson, but the commission neither acknowledged nor denied the authenticity of the submitted videos.

According to the lawyer, the SEC is just messing around, and authentication is a standard procedure and should not be so hard. Hogan also urged Judge Torres to pay attention to these videos, especially those featuring Robert Jackson.

In a January Forbes article, Jackson, former SEC commissioner in Donald Trump’s administration, has made controversial remarks about the SEC’s approach to regulating cryptocurrencies.

He claimed that the regulator deliberately avoided clarity on this direction, especially in the area of the status of digital assets as securities, and chose the vector of “communicating with the market.”

So far, the growth of Ripple’s services continues to expand internationally despite the slowdown in the United States which indicates that Ripple is already set up for success no matter what.

With that being said, Ripple’s likelihood in winning against the SEC remain strong which may be indicated by the SEC’s constant delay tactics.

It is already estimated that the costs of the entire case will likely amount to more than $100 million as the case has already lasted for much more than one year.

Still, this is a small amount of Ripple and the company continues to have a strong balance sheet where it has indicated that it may be looking into potential acquisitions during the current crypto bear market.

CryptoShrypto concludes:

Recently, Ripple has asked the court’s approval to serve non-party subpoenas in order to get downloadable copies of a number of videotapes in which the agency’s representatives are heard making public statements.

As a result, in order for Ripple’s legal team to be able to retrieve the necessary material, videotapes subpoenas must now be issued. The materials will be authenticated by the SEC when Ripple’s motion to serve subpoenas on the relevant firms is granted by the court.

The SEC, however, is not going to grant that request.

Jackson, a former SEC commissioner under Donald Trump administration had made contentious comments regarding the SEC’s strategy for regulating cryptocurrencies in a January interview.

He asserted that the regulator purposefully avoided providing clarification on this matter, particularly regarding the question of whether digital assets qualify as securities, and instead preferred to focus on communicating with the market.

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