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Ripple files new letter in continuing litigation with the SEC in support of indicative ruling motion

Internet reports that Ripple Labs has filed a supplementary letter in support of its motion to seek an indicative ruling in the U.S. Securities and Exchange Commission (SEC) lawsuit. In a letter to U.S. District Judge Analisa Torres, Ripple further explained why the judge should grant both parties 'requests for an indicative ruling. The latest letter comes less than a week after the SEC and Ripple refiled motions seeking Judge Torres 'indicative ruling. It should be noted that the parties requested the judge to make a preliminary ruling to amend its final decision, including lifting the permanent injunction on Ripple's future XRP sales and reducing the fine amount to US$50 million. Although the judge initially denied the request, the SEC and Ripple jointly resubmitted the indicative ruling motion to meet the "special circumstances" criterion. Ripple has now filed a supplementary letter supporting the recently filed motion.

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