In another installment of the long-term legal battle pitting U.S. blockchain company Ripple against the U.S. Securities and Exchange Commission (SEC), both entities have asked for a swift judgment in the agency’s case against the company.
The two parties are currently seeking a so-called summary judgment, indicating that neither the plaintiff nor the defendant want the legal action to evolve into a full trial, according to court documents filed on September 13 and obtained by news site Theblock.co. Owing to this, Ripple’s legal woes could be resolved relatively soon, potentially boosting its native token’s price.
The American regulator’s case against the business is centered on the accusation that its token, Ripple (XRP), is an unregistered security. Ripple claims its native token is not a security and rejects the SEC’s accusations. The agency has also been making efforts to extend the charges to the company’s executives, and secure the personal financial records of Ripple’s CEO...
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