Ripple Tries to Beat Off SEC’s Attack on Their Defense
Ripple tries to frontrun SEC’s attack on their defense concerning the fair notice that should have happened before the accusations. In their letter to Analisa Torres, a Federal Judge, they called it meritless and notice that the SEC is unable to remotely handle the fact that there are no laws that wouldn’t allow their defense to be successful.
Ripple asked the court to dismiss the idea of setting a joint briefing for Brad Garlinghouse and Chris Larsen. They stress that it should happen according to their default briefing schedule and should not be linked to the individual defenses, because it doesn’t actually affect anything.
The SEC insisted that they were not obliged to warn anyone about the company’s violation. Ripple mentioned that SEC’s announcements back in 2015 about XRP made it clear that the token was rather a virtual currency than the security and blamed them for giving double messages to the exchanges. The Commission, in their turn, pointed out that the company’s settlement with FinCEN isn’t an excuse to skip complying with the security laws.