The U.S. Securities and Exchange Commission (SEC) has pushed back against an emergency request filed by Justin W. Keener in the Ripple case, saying the court lacks jurisdiction.
Keener claimed to have “decisive evidence” supporting Ripple and “liberty of the American people.” However, the SEC asked Judge Analisa Torres to dismiss the filing, noting that the Ripple lawsuit is already under review by the Second Circuit Court of Appeals. Citing legal precedent, the SEC stated the District Court cannot hear new motions once an appeal is active.
Additionally, the SEC highlighted that Keener didn’t file a proper motion to intervene, which makes his request invalid. The agency also pointed out that third-party interventions in the case had been previously denied by the court.
In its reply, the SEC said that Ripple and its legal team are fully capable of presenting any evidence they deem useful. The agency added that Keener can still share his documents directly with Ripple, but the court does not need to get involved.
While Keener did not reveal what his evidence contains, some speculate it may relate to physical investment contracts. His vague filing left many in the XRP community curious.
This legal action is made at the time when the XRP lawsuit is approaching its end. The SEC has recently withdrawn their appeal, and Ripple CEO Brad Garlinghouse has also stated that the case is over. Ripple also recently signed a deal to acquire prime broker Hidden Road for $1.25 billion to expand its crypto services internationally.
The Ripple story may be coming to an end, but this is just the beginning of Ripple’s story.
Also Read: New Twist in Ripple SEC Case As Penny Stock Dealer Claims Evidence
