A fresh development has emerged in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). A motion filed by Justin W. Keener, a nonparty involved in the case, presents what he claims is “decisive evidence” in favor of Ripple Labs and U.S. investors. 🤨 The filing challenges the SEC’s enforcement strategies and questions the relevance of the Howey Test, which has been a central point in legal proceedings. ⚖️ Despite facing procedural hurdles from the SEC, Keener submitted his motion despite a $10 million fine levied against him by the federal court for penny stock trading. 💰 🎤 Pro-XRP lawyer Bill Morgan believes this new filing adds further complexity to the case, highlighting that the situation will continue to unfold as the SEC has to respond to the court’s request on June 16. 👀 Ripple and the SEC recently sought a 60-day delay in their appeal process at the Second Circuit court. They hoped for this pause to allow for both parties to finalize a settlement agreement where Ripple’s penalty would be lowered to $50 million and the previous injunction would be dropped. 🤝 The new evidence, though not officially part of the case record, has sparked reactions within the XRP community. Keener criticized the SEC’s interpretation of securities laws, claiming their use of the Howey Test lacks consistency. 🙌 The court previously rejected Ripple and the SEC’s request for an indication on the proposed settlement agreement. 🙅♂️ This new development has increased anticipation around the next move. Keener’s filing, although not requested by either party, might influence future legal discussions or prolong the process further. 🤔 Attorney Morgan predicted that he was expecting a fresh update in the case, especially after the denial of the indicated ruling. He also suggested that unexpected actions like Keener’s submission would make it difficult to conclude the case quickly. ⏳ The Ripple vs. SEC lawsuit has seen its fair share of twists and turns since the SEC’s initial announcement in December 2020. The legal battle continues to push back its resolution timeline, despite each potential breakthrough facing new challenges that complicate the process.