Ripple vs. SEC: Key Deadlines Set for 2024 Remedies Phase

Published by

Qadir AK

November 14, 2023

In a big move, District Judge Analisa Torres, overseeing the U.S. Securities and Exchange Commission (SEC) vs. case, has set a detailed schedule for the remedies phase. This announcement, shared in a letter dated November 9, 2023, lays out essential dates guiding the story until the first half of 2024.

Timeline of Events

The court’s plan gives a clear path for both the SEC and Ripple, with deadlines from February to April 2024:

February 12, 2024: Deadline for completing remedies-related discovery.
March 13, 2024: SEC must file its brief regarding remedies.
April 12, 2024: Ripple to file its opposition.
April 29, 2024: SEC to file its reply to Ripple’s opposition.

This plan is crucial for both sides, giving a framework for the next phase in this big legal battle.

Crypto Community on Alert

The Ripple case is closely watched by the crypto community. It could set a rule for how the U.S. regulates digital assets. The focus on remedies is a big step in figuring out if Ripple’s XRP sales broke rules about selling unregistered securities.

Ripple’s Fate in the Balance

Australian lawyer Bill Morgan points out how close the SEC’s brief deadline is to the 2024 XRP Gold Coast Conference. It starts just nine days after the SEC submits its brief. The conference, with key figure John E. Deaton as a speaker, is set to be a place for talking about the case.

Morgan thinks the case might settle before the conference. Because the case is long and complex, settling could make things go faster and might be less bad for Ripple, depending on what they agree on.

Insights and Predictions

Legal expert Jeremy Hogan thinks that finishing the last briefs by April might mean a final decision by July. Ripple is now the only one being sued, a big change that makes the case smaller—just 20% of what it was. This shows how having good lawyers is really important in tough legal fights.

As the SEC vs. Ripple case moves forward, the set deadlines are a big moment in this high-stakes legal battle. The crypto world is excited to see what happens next, knowing this case could change a lot of things in the industry.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.