Could the resolution of the XRP case involving Ripple and the US Securities and Exchange Commission (SEC) happen today? The SEC must organize, on November 30, a confidential meeting aimed at addressing important points for the regulator, which focuses on resolving legal processes that are still ongoing.
The SEC’s official announcement does not directly name the company Ripple. However, the news was enough to trigger several speculations in the XRP community regarding the outcome of the legal battle.
At the time of publication, the price of XRP was listed at US$0.604883, down 1.1% in the last 24 hours.
In this article, we will discuss:
Dates for discovery and briefing
Recently, judge Analisa Torres defined the dates for discovering solutions and briefing in the ongoing process. The judge signed an order for the discovery and instruction of solutions in the process. Furthermore, the judge scheduled the first court appearance for February 12, 2024.
With this new movement, there is an expectation that both parties will reach the conclusion of all discoveries that are related to the solutions on the scheduled date.
Issued on November 13, the legal move in the case came in response to the letter sent by the SEC on November 9 rejecting its allegations against Ripple executives Brad Garlinghouse and Chris Larsen.
Ripple compares SEC
Stuart Alderoty, the Chief Legal Officer of Ripple, launched scathing criticism against the SEC and its chairman, Gary Gensler, in a landmark post on November 16th.
Alderoty, highlighting Ripple’s recent successes in its legal battle with the SEC, compared Gensler to an iconic movie villain: Colonel Nathan R. Jessup, from “A Few Good Men,” a 1989 play and an acclaimed 1992 film. This analogy emphasizes the perception of institutional indoctrination within the SEC, suggesting a rigid and uncompromising stance on the part of its president.
It is worth noting that the lawyer who closely followed the case, Jeremy Hogan, noted an important detail about XRP in the regulator’s case against the exchange Kraken. In sharing part of the lawsuit, Hogan highlighted that XRP was outside the list of alleged securities in the text of the SEC document. In the legal battle waged by the US Securities and Exchange Commission (SEC) against Ripple, the regulator claimed that XRP was sold illegally by the company.
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Source: https://portalcripto.com.br/ripple-vs-sec-resolucao-do-caso-xrp-hoje-entenda/
