In a fresh twist in the ongoing SEC vs. Ripple legal battle, the U.S. Securities and Exchange Commission (SEC) has filed an official opposition to a renewed request for “decisive evidence” made by nonparty Justin Keener. This move, filed late on June 4, underscores the SEC’s stance that the court lacks jurisdiction to entertain such third-party requests amid a pending appeal in the Second Circuit.
SEC Asserts Jurisdictional Boundaries
The SEC urged Judge Analisa Torres to reject Keener’s latest “Emergency Request of Decisive Evidence,” citing three main arguments. First, the agency emphasized that since the summary judgment remains under appeal in the Second Circuit, the district court cannot act on the request. Second, it noted Keener never formally moved to intervene in the case—a process the court has previously denied for other nonparties. Finally, the SEC suggested that if Keener believed the evidence was important, he could share it directly with Ripple, who may choose to submit it themselves.
Crucially, the court has yet to rule on Keener’s original request, which aimed to introduce evidence believed to favor Ripple in its battle with the SEC over whether XRP constitutes an “investment contract.”
SEC Doubts Relevance of Proffered Evidence
In its filing, the SEC downplayed the importance of the new evidence Keener claims to offer, stating that even if the case were still in the summary judgment phase, the information would likely not impact the outcome. The agency asserted that the evidence fails to materially contribute to the existing arguments and serves no real purpose in resolving the broader legal questions around XRP’s regulatory status.
Also Read: Ripple vs. SEC: Judge Blocks $50M Settlement Deal – What’s Next for XRP?
Lawyers Eye June 16 Deadline in Appeal Process
Legal experts continue to monitor developments closely. Attorney Fred Rispoli noted that while the SEC dropped its claims against Ripple in March, the lack of full dismissal and an unresolved indicative ruling have prolonged proceedings. With a status update due on June 16 in the Second Circuit, Rispoli anticipates a possible 60-day extension—especially if a pending motion remains unresolved by Judge Torres.
20 days later, no refile yet by SEC and Ripple in district court and the June 16 deadline for the status update in the 2nd Circuit looms large. Expect the refile before Judge Torres to happen by then. If there is nothing pending before Torres when the parties file the…1/3 https://t.co/XSq3uYC0Bj
— Fred Rispoli (@freddyriz) June 4, 2025
The SEC’s opposition highlights the procedural hurdles nonparties face in intervening, while keeping attention firmly on the appellate court’s upcoming actions.
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