MoneyGram International Inc., a cross-border payments company, asked the United States District Court for the Southern District of New York on Wednesday to seal portions of summary judgment evidence in Ripple Labs’ continuing litigation against the United States Securities and Exchange Commission (SEC).
The SEC filed a complaint against Ripple and its officials in December 2020, stating that the sale of XRP represented an issue of unregistered securities worth more than US$1.38 billion.
MoneyGram ceased trading on Ripple’s network in February 2021, citing lawsuit uncertainties, stopping a substantial connection involving several billion dollars in on-demand liquidity transactions.
A federal judge allowed a joint request last month to extend the deadline for all parties to submit their Daubert Motions, which would exclude some expert testimonies and other associated evidence, to January 13.
