JAKARTA - Crypto company Ripple Labs recently submitted an additional notification letter in the case of XRP Vs SEC to Justice Analysis Torres of the US District Court of Southern Region of New York.
This is related to Ripple's defense claiming to have given the SEC sufficient notification. The additional notification letter refers to the judge's decision in the Voyager bankruptcy case where the judge rejected the SEC's objection and approved the bankruptcy plan.
This latest decision comes as the XRP community awaits a summary decision in this case. Some time ago, Judge Analysis Torres rejected the SEC's proposal to remove a fair notice defense from Ripple. The SEC wants Ripple to be barred from claiming to have been warned of a number of errors.
Interestingly, in the Voyager Digital case, Judge Michael Wiles of the Southern District of New York said that Binance US could continue the purchase of Voyager's $1 billion assets. Ripple referred to this ruling in its latest additional notification letter. Ripple claims that the SEC does not provide any guidance at all on what the Debtors should prove to show that VGX is not a security.
In this case, the SEC accused Ripple of making illegal offerings and selling XRPs that were not listed as securities. However, Ripple denied the allegations and argued that XRP is a digital currency regulated by financial law. In its defense, Ripple stated that it had given the SEC sufficient notification in connection with XRP transactions.
Ripple is also trying to get support from XRP users. The company plans to provide free tokens to XRP users to increase adoption and strengthen the use of XRP as digital currency. However, this plan has drawn criticism from some circles who think that the action will add to Ripple's legal problems with the SEC.
However, Ripple is trying to keep fighting for this case. The company claims that XRP has great potential and can bring benefits to society and the financial industry as a whole.
In its latest additional notification letter, Ripple strengthened its defense by referring to the Judge's decision in another case, namely Voyager Digital, and hopes to get the same results in the case of XRP Vs SEC.
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