TL;DR
The lengthy legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is nearing a grand trial (scheduled for April 23), which seems to be the final chapter of the dispute.
Recall that the lawsuit was launched in December 2020 when the regulator accused the company of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. Ripple has stood behind the thesis that its native token is a currency rather than a security and, thus, does not fall under the SECâs jurisdiction.
Prior to the trial, the entities must comply with certain court rules. Not long ago, the watchdog was granted an extension on the deadline to provide essential data related to the schedule for remedies briefing. Its opening brief is due on March 22, while Rippleâs opposition should come no later than April 22.
The American attorney James Filan recently revealed on X that the parties have filed a joint letter seeking the magistratesâ approval âto govern sealing issues relating to the upcoming remedies-related briefing.â
The outcome of the lawsuit has been long-awaited by industry participants since it can trigger considerable volatility for XRP and the entire cryptocurrency market.
The price of the asset spiked by over 70% when Ripple secured its first partial court win last year. It jumped again (albeit in a more modest fashion) when the company achieved two additional victories in the following months.
The post Ripple v. SEC Lawsuit: Whatâs the Latest Development? appeared first on CryptoPotato.
- The Ripple v. SEC case over XRPâs legal status nears its trial on April 23, following a joint letter regarding trial preparations.
- The lawsuitâs resolution could be crucial for XRPâs price, with previous legal victories for the company prompting notable surges.
The lengthy legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is nearing a grand trial (scheduled for April 23), which seems to be the final chapter of the dispute.
Recall that the lawsuit was launched in December 2020 when the regulator accused the company of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. Ripple has stood behind the thesis that its native token is a currency rather than a security and, thus, does not fall under the SECâs jurisdiction.
Prior to the trial, the entities must comply with certain court rules. Not long ago, the watchdog was granted an extension on the deadline to provide essential data related to the schedule for remedies briefing. Its opening brief is due on March 22, while Rippleâs opposition should come no later than April 22.
The American attorney James Filan recently revealed on X that the parties have filed a joint letter seeking the magistratesâ approval âto govern sealing issues relating to the upcoming remedies-related briefing.â
The outcome of the lawsuit has been long-awaited by industry participants since it can trigger considerable volatility for XRP and the entire cryptocurrency market.
The price of the asset spiked by over 70% when Ripple secured its first partial court win last year. It jumped again (albeit in a more modest fashion) when the company achieved two additional victories in the following months.
The post Ripple v. SEC Lawsuit: Whatâs the Latest Development? appeared first on CryptoPotato.
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