Forbes senior contributor Roslyn Layton challenged the US securities body in the XRP lawsuit, in favour of the XRP token holders.
In December 2020, The United States Securities and Exchange Commission (SEC) filed a suit against the Ripple company for over $1.3 billion worth of unregistered XRP securities public sale. Ripple defence lawyers are trying to use the former SEC official William Hinman’s statement in this case to prove that XRP is a non-security crypto token. The official documents, which include the statements passed by Hinman on the nature of crypto assets, are under a private domain.
The US SEC agency kept those crucial documents in the private domain on behalf of legal approval from the court and also once again SEC filed a motion in the court in Dec 2022 to keep those documents under a private domain.
In the latest, Forbes senior contributor Roslyn Layton, represented by her attorney J. Carl Cecere filed a motion with District Judge Analisa Torres to put her point of view in this case & explain why it is mandatory to unseal those documents.
Filed motion says:
“The published line in the release of those documents is particularly strong. This case has garnered intense public and media attention…”
Motion pointed out that stakes in terms of XRP token holdings is very high and it is not all about the Ripple company & its Executives but also for many people in the world, including US crypto investors.
She acknowledged to the court that a misguided ruling & lawsuit against the Ripple company by the SEC agency already resulted in a very big loss for the XRP token holders. In short, the motion noted that XRP lawsuit is more about public interest and this is the reason why the court should order the SEC body to release those documents in public domain.