When Will the Ripple Litigation End? Calendar Changed!
When Will the Ripple Litigation Finish? Jeremy Hogan predicted that the lawsuit would wrap up in early 2022, but revised his prediction after the two fact discovery extensions. He also defended his prediction that April could influence the outcome of the lawsuit. Judge Sarah Netburn granted a joint motion to extend expert discovery due to personal matters and the rapid spread of the COVID-19 variant.
The SEC is preparing to file an objection to the SEC’s lawsuit against Ripple, and this case could have an impact on how the cryptocurrency industry is regulated in the US. The court’s ruling could prevent the SEC from taking further action against the company and open the door to further regulation in the future. In an email, SEC Chairman Jay Clayton said, “Ripple should not be compelled to pay any fines unless and until it settles this case.”
A recent development may be helping the Ripple Litigation End on May 28, with the SEC agreeing to extend the case’s timeline. The SEC redacted internal documents, stating that portions were the author’s opinion and thus not subject to disclosure. Ripple and the SEC have agreed to extend the case’s timeline, which should be finalized before the end of the year.
The SEC’s lawsuit against Ripple is set to conclude by the end of September or October this year, according to Attorney Jeremy Hogan, who oversees the case. Hogan expects the case to be resolved by then, and added that the lawsuit could be settled at any point. In this article, we’ll take a look at why the SEC’s lawsuit against Ripple is so important, and whether the SEC can really put an end to it.
A fintech company, Ripple, is suing the Securities and Exchange Commission for allegedly selling over $1.3 billion of XRP as unregistered securities. As a result, many exchanges have stopped or suspended trading in XRP. However, Ripple executives have written a letter to the court arguing that the lawsuit is frivolous, as XRP is not like other cryptocurrencies.
The Ripple Litigation ends in February 2022. Why is the ruling so significant? The SEC’s ability to regulate cryptocurrency offerings will depend on how the SEC rules on the issue. Ripple and Larsen argue that the memos show that their tokens were not securities. But Judge Torres has recently unsealed the memos, which could have repercussions across SEC enforcement actions.