The Ripple (XRP) community was in shock yesterday after the SEC disclosed that it does not seek to take additional discoveries at this time. This comes after the court requested that the SEC state its position on the additional discovery by April 15, 2022.
“Pursuant to this court’s March 23 order and after the meeting and conferring with Individual Defendants on April 14, 2022, the Securities and Exchange Commission respectfully informs the court that the SEC does not seek to take any additional discovery at this time,” excerpts of the agency’s recent letter to the New York Southern District Court read.
However, while the security agency will not currently be taking additional discovery, it stated in the letter that both the SEC and the Individual Defendants may decide to take discovery limited to disgorgement issues whenever necessary.
SEC Decides Not to Embark on Any Delay
Recall that the SEC has been accused of employing delay tactics to drag the lawsuit as far as possible in order to frustrate Ripple into negotiating a settlement in its favor.
The securities agency had requested time extensions to respond to issues on numerous occasions, even on the simplest of issues.
While many followers of the lawsuit expected the SEC to seek additional discovery, the Securities and Exchange Commission did the exact opposite.