Ripple Files New Notice Supporting Fair Notice Defense Against SEC

On Monday, Ripple Labs submitted a notice of supplemental authority to Judge Analisa Torres of the US District Court Southern District of New York in the ongoing XRP versus SEC lawsuit. The notice was submitted as part of Ripple's fair notice defense and referred to a decision made by the Judge in the Voyager bankruptcy case, where the SEC's objections were rejected and the bankruptcy plan was approved. This update comes at a time when the XRP community is eagerly awaiting the Summary Judgment in the lawsuit.

In a recent development, Judge Analisa Torres dismissed the SEC's motion to dismiss Ripple's fair notice defense, which aimed to prevent Ripple from arguing that it was warned of any wrongdoing. Meanwhile, in another lawsuit involving Voyager Digital, Judge Michael Wiles of the Southern District of New York ruled that Binance US was permitted to acquire Voyager assets worth $1 billion.

Ripple Files Notice Of Supplemental Authority

In its latest opposition notice to the SEC's motion for summary judgment, Ripple cited Judge Wiles' ruling in the Voyager Digital case, stating that it supports Ripple's fair notice defense. According to Ripple, Judge Wiles' rejection of the SEC's objections aligns with many of the arguments raised by the defendants in the ongoing lawsuit. In his ruling, Judge Wiles criticized the SEC for not providing any clear guidance on what the Debtors needed to prove to demonstrate that VGX was not a security.

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