Basically the sec is now stalling. It’s becoming very apparent Jay Clayton went ahead with this lawsuit prematurely and without concluding an investigation. The guy literally did it on his last day.
The court has ordered the SEC to hand over documents regarding Eth and BTC twice and they still haven’t done it. The sec is starting to look like a complete embarrassment. But ripples fair notice defence is where they can win at summary judgment.
The sec had 8 years to bring the case forward. They had 8 years to help crypto but instead Jay Clayton filed the lawsuit on the last day. Ripple are now saying they did not have fair notice. The SEC sat on their hands and didn’t assist crypto in anyway. If ripple win the fair notice defence that means the SEC cannot go after the OG cryptos. They fucked up, by sitting aside and doing nothing they have essentially dug their own grave.
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