SEC responded to the "urgent evidence" application submitted in the Ripple (XRP) case!

According to crypto journalist Eleanor Terrett, the U.S. Securities and Exchange Commission officially objected to the “emergency evidence motion” intended to be submitted in favor of Ripple, (SEC). This motion was submitted to the court last week by Justin W. Keener.

SEC presented three main reasons while requesting the rejection of the application:

1. Lack of jurisdiction: The SEC stated that the District Court does not have the authority to make a decision on this matter due to the fact that the case has currently been transferred to the Second Circuit Court of Appeals.
2. Compliance with procedure: It was stated that Keener did not submit the official intervention request necessary to intervene in the case.
3. Unnecessity: SEC lawyers argued that Ripple has the competence to assess whether this evidence would contribute to its case.

In line with these reasons, the SEC requested Judge Analisa Torres to completely reject the application.

In a motion filed last week, Keener had made an urgent request to “present decisive evidence in favor of the freedom of the defendants and the American people.” However, his letter did not contain a clear explanation of what this evidence was or how it would benefit Ripple. In his motion, Keener had referred to certain materials related to physical investment contracts.

On the other hand, a lawsuit was recently filed by the SEC against Keener on the grounds that he was an “unregistered low-priced stock seller,” and he was ordered to pay a penalty of over 10 million dollars.

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