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Motions denied for both SEC and Ripple as battle continues -Breaking

by Mike Robinson

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© Reuters.

Analisa Torres of the Southern New York District court issued two rulings Friday regarding motions that were filed against Labs as part of the Security and Exchange Commission’s (SEC).

Ripple said that Ripple did not receive fair notice from the agency regarding the fact that the token was a security. This denied Ripple due process. Judge Torres denied the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit — in other words, that the defense, if accepted, could be used to win the case.

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