SEC Asks Court to Deny Ripple Motion for Summary Judgment in $XRP Lawsuit

The SEC has filed a legal rebuttal to Ripple’s motion for summary judgment, a day after Ripple took a similar move against the SEC. The SEC wrote in a document filed on Friday that Ripple’s motion should be denied "because the undisputed evidence shows that defendants engaged in unregistered offers and sales of securities to public investors."

Meanwhile, Ripple has also filed a document against the SEC’s motion for summary judgment, saying the securities watchdog has no viable legal theory to support its claim that Ripple had to register $XRP as a security under the Securities Act of 1933.