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According to news on June 14, Ripple Labs Inc submitted six documents to the court yesterday, one of which was an important document that strongly opposed the US Securities and Exchange Commission (SEC) request for summary judgment.
In the 89-page document, Ripple shared insights into the many inconsistencies in the SEC's arguments and seeks summary judgment against the SEC. Ripple Labs revealed that the SEC has so far failed to prove its view that the XRP token is a security and that the company and its executives are guilty of the crimes it has charged them with. As an example, Ripple Labs said that buying U.S. dollars is not necessarily a gateway into a joint venture with the U.S. Treasury. Based on the logic of its arguments, Ripple Labs wants the court to deny the SEC’s request for summary judgment on the aiding and abetting charges brought by the company and its executives.
In the 89-page document, Ripple shared insights into the many inconsistencies in the SEC's arguments and seeks summary judgment against the SEC. Ripple Labs revealed that the SEC has so far failed to prove its view that the XRP token is a security and that the company and its executives are guilty of the crimes it has charged them with. As an example, Ripple Labs said that buying U.S. dollars is not necessarily a gateway into a joint venture with the U.S. Treasury. Based on the logic of its arguments, Ripple Labs wants the court to deny the SEC’s request for summary judgment on the aiding and abetting charges brought by the company and its executives.
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