- SEC opposes request for new evidence in Ripple lawsuit, because bureaucracy is their love language.
- Judge Torres to decide whether to accept new evidence, because someone has to make sense of this mess.
The U.S. Securities and Exchange Commission (SEC), in a move as surprising as a penguin showing up to a desert rave, has opposed a request to present new evidence in the ongoing lawsuit against Ripple Labs. Justin W. Keener, who apparently enjoys poking bureaucratic bears, submitted the petition last week. Judge Analisa Torres received a letter from the SEC on April 8, 2025, which basically said, “Nope, not happening.” This news was shared by crypto journalist Eleanor Terret on her official X account, because where else would you break such thrilling news? 🐦
SEC Asks Judge Torres to Reject Petition for New Evidence, Because Why Make Things Easy?
The SEC has three objections, which they presented with the enthusiasm of someone explaining why they can’t attend your birthday party. First, the district court can’t handle the request because the case is still in its appeal stage. Second, Keener didn’t follow proper procedure, which is like showing up to a black-tie event in flip-flops. Third, the SEC claims the request is pointless, because apparently, Ripple should be the one presenting evidence, not some random third party. 🤷♂️
The SEC has formally asked Judge Torres to reject the motion, and now we all wait with bated breath to see what she decides. Because nothing says “legal drama” like waiting for a judge to make a decision that could take longer than a Vogon poetry reading. 🎭
Since 2020, the SEC has been locked in a legal battle with Ripple Labs, arguing that Ripple raised over $1.3 billion through XRP sales, which the SEC views as unregistered securities. The crypto industry is watching closely, because the outcome of this case could set new guidelines for digital asset regulation. Or it could just add more confusion. Who knows? 🤔
XRP Trading Volume Surpasses $21.62 Billion, Because Legal Battles Are Apparently Great for Business
In 2023, Ripple scored a partial victory when Judge Torres ruled that XRP wasn’t a security when sold to retail investors. However, institutional investors weren’t so lucky. The legal battle continues, but it hasn’t stopped XRP’s trading volume from skyrocketing. In March 2025, Ripple CEO Brad Garlinghouse called the SEC’s appeal a “resounding victory” for Ripple and the crypto market. Meanwhile, XRP’s trading volume hit $21.62 billion in a single month, proving that investors love a good underdog story. 🚀
As Ripple waits for Judge Torres to decide whether to accept new evidence, the SEC remains determined to fight this case to the bitter end. The outcome of this legal saga will likely set new guidelines for cryptocurrency regulation in the U.S. Or it could just create more questions. Either way, grab your popcorn, because this show isn’t over yet. 🍿
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2025-04-09 22:18