Ripple Submits New Letter in Ongoing Lawsuit with SEC to Support Motion for Indicative Ruling

Ripple Labs has submitted a supplemental letter in support of its motion for an indicative ruling in its lawsuit with the U.S. Securities and Exchange Commission (SEC). In the letter addressed to U.S. District Judge Analisa Torres, Ripple further elaborates on why the judge should grant both parties’ request for an indicative ruling. This latest filing comes less than a week after the SEC and Ripple resubmitted their motion seeking an indicative ruling from Judge Torres. It should be noted that both parties are requesting a preliminary ruling from the judge to amend the final judgment, specifically to lift the permanent injunction on Ripple’s future XRP sales and to reduce the penalty amount to $50 million. Although the judge initially denied the request, the SEC and Ripple jointly resubmitted the motion for an indicative ruling to meet the “exceptional circumstances” standard. Ripple has now filed a supplemental letter in support of the recently submitted motion.