The Ripple vs. SEC case has resurfaced in the public eye after Justin W. Keener filed a request to present potential evidence that could affect the case's outcome.
Mysterious Witness Justin W. Keener
Justin W. Keener, previously ordered to pay over $10 million to the U.S. Securities and Exchange Commission (SEC), has filed a request to present 'decisive evidence' in the conclusion of the Ripple case. He claims to have data that could influence the legal classification of investment contracts.
Intervention in Ripple Case
Keener was not a prior party to the Ripple case but believes his evidence can promote 'liberty for the American people.' His filing came as the case appeared to be concluding, and although he acknowledges the unusual timing, he insists his data is critical. The SEC has filed an opposition to Keener's request, arguing that the lower court has lost jurisdiction.
Prolonged Battle of Ripple Against SEC
The lawsuit against Ripple Labs by the SEC began in December 2020, alleging that Ripple raised over $1.3 billion through the sale of XRP, which it considered an unregistered security. In 2023, Ripple achieved a partial victory when Judge Analisa Torres ruled that XRP was not a security in sales to retail investors but characterized institutional sales as securities transactions.
The Ripple case continues to garner attention, with Keener's intervention adding a new twist to the already lengthy legal process. The implications of his request remain uncertain, yet the interest in the case is heightened.
