The News About The Ripple Case
According to the Case 1:20-cv-10832-AT-SN Document 465 Filed 04/11/22 document that was released yesterday, the SEC’s motion for reconsideration has been DENIED, while its clarification motion has been GRANTED.
The Clerk of Court was also respectfully instructed to close the motion at ECF No. 429.
Important Notes By The Judge
The Court’s Disagreement with the SEC
Having reviewed the documents, the Court disagrees with the SEC. The SEC’s brief and Having reviewed the documents, the Court disagrees with the SEC. The SEC’sbrief and documents demonstrate that, to the extent agency deliberationsconcerning the regulation of digital asset offerings were occurring at the time of the Speech’s drafting, they were occurring separately and in parallel to the Speech. The SEC conflates emails about and drafts of the Speech that actually “compris[ed] part of” those parallel deliberations with emails and edits that merely mentioned such deliberations or were otherwise relevant to them but not an “essential link.”
The SEC’s Reply
Emails related to and drafts of the Speech are not, as the SEC suggests, analogous to themessaging records inNat. Res. Def. Council v.U.S.Env’t Prot. Agency(“NRDC”).19 F.4th177, 189 (2d Cir. 2021)
For More information the document can be found Here.