The ongoing legal battle between San Fransisco based payment firm Ripple Labs Inc. The United States Securities and Exchange Commission is currently in the spotlight as today is the deadline for the discovery phase of the lawsuit.
The Ripple vs. SEC lawsuit has a set of important dates
Ashley Prosper, a member of XRP’s community. shared The latest developments in the case involving the social media platform X, formerly Twitter. According to an expert, the current situation is concerning the lawsuit on the social media platform X (formerly Twitter). “remedies-related discovery phase” In the case between Ripple and the SEC Today, February 20, is the last day.
Proper’s post X was accompanied with a screenshot from a filing document that showed several dates to be on the lookout for, as well as the importance of those dates. The following four dates are important: February 20, March 13, and April 12 (and 29 April). The article aims to clarify. “some misconceptions” Regarding the ongoing litigation between the parties. Ripple has to provide its services today in order to comply with a court order. financial data.
Prosper noted that the community would not have access to any of the information Ripple had provided until the Commission submitted its remedy-related brief, which is due on the 13th March. But they did. The community was urged not to place too much hope in development.
This post is written in English:
Clarifying some misconceptions. Tomorrow is the extended discovery deadline for the Ripple SEC case. Ripple will not reveal anything until SEC files their brief on March 13, so don’t expect to see much.
The pundit further highlighted that the deadline set for the submission of final remedies on April 29. He also refuted false claims stating that the final decision by Judge Torres Analisa on the case was not due until May.
After the remedies are presented in April, they asserted, Judge Torres’ final decisions will be announced. They expect that the judge will reveal her decision on the case around “July and August.”
They also stated that Judge Torres could even take up to “next year” If she so chooses, she can render her decision. The legal dispute between Ripple, the SEC, and other parties is expected to be settled in April. However, a settlement will not happen without a court order.
Impact of the Case
There are speculations about the potential impact of this lawsuit on the cryptosphere. A decision against Ripple may set a precedent for how governments will handle other cryptocurrencies. landscape.
This could create doubts that could hinder the growth of the cryptocurrency markets. A more nuanced approach could lead to growth and clear regulations.
Chart by Tradingview.com. Featured image by iStock.
“This article is not financial advice.”
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Source: bitcoinist.com