In the latest tussle between crypto payment platform Ripple and the Securities Exchange Commission, Ripple has accused the SEC over taking an “extreme position” by attempting to seal expert testimony behind a Daubert motion.
The motion would keep key information regarding the long-running dispute concerning alleged unregistered securities away from public scrutiny.
“It is antithetical to the right of the public to have access to substantive materials,” said Ripple in a letter addressed to District Judge Analisa Torres, adding:
“The SEC’s attempt to suppress public criticisms of its experts’ opinions is particularly egregious given that none of the SEC’s expert reports is likely to contain SEC confidential information."
The SEC first brought charges against Ripple Labs in December 2020 when the US regulator accused the crypto payment platform of raising $1.3bln in an unregistered digital asset securities offering.