.Ripple made new filings to oppose the SECGov's summary judgment request
voicing strong opposition to the request for summary judgment by the market regulator.
In the 89-page filing, Ripple shared insights into the many inconsistencies in the argument of the SEC, for which it wanted a summary judgment. Ripple Labs revealed that the market regulator has not to date proven its theories regarding the common enterprise that XRP holders invested in, that the XRP token itself is a security and that the company and its executives are guilty of what it is accusing them of.
Using the example of a diamond purchase, Ripple said that investment in or purchase of this precious stone does not put the investor in a common enterprise with De Beers. Ripple Labs also emphasized that buying the U.S. dollar is not necessarily a gateway into a common enterprise with the U.S. Treasury Department.
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