The US Securities and Exchange Commission (SEC) is planning to file a motion by 24th June to quash the deposition subpoena served by the defendants (Ripple) on a former SEC official. The official schedule for the motion is listed below.
The said motion scheduled to be filed by the SEC comes due to the disagreement between the two parties, as Ripple wants to question a former SEC official under oath and SEC is completely against it. Judge Netburn would decide whether Ripple gets to question the former SEC official (currently unknown) or not.
The SEC vs Ripple case has come a long way over the past 6 months, and while both parties want to take a moral high ground, it is far from over. There have been several twists and turns in the case with many hearings going in favor of Ripple and few others SEC seemed to have an upper hand. At one point it also seemed as if SEC would take the settlement route.
