Ripple Vs. SEC Lawsuit: Court Gives Regulator Tight Deadline To Strike Back

inside Latest information on the trial Between Ripple and the U.S. Securities and Exchange Commission (SEC), Magistrate Sarah Netburnordered that regulators set strict deadlines for responding to crypto companies’ complaints.

Judge issues new scheduling order

On Thursday, April 25, Magistrate Judge Netburn said: The long-running legal battle between Ripple and the US SEC.

James K. Phelan, former federal prosecutor and defense attorney share Details on the scheduling order can be found in the X (formerly Twitter) post. The order states that the SEC has been granted a deadline of Monday, April 29, 2024, to file a response to Ripple’s strike motion. In response, Ripple is obligated to submit a response within three business days.

This order is an important step Ripple and SEC lawsuitThis may be in response to the SEC’s recently filed motion to tighten regulations. Remedies and entry A final judgment. Prior to this, on April 22, the company filed a motion with the SEC to quash newly filed expert materials, alleging that the regulator filed the filing beyond the allotted deadline, thereby violating discovery rules. submitted.

Digital asset settlement company rejected a $2 billion fine In early April, regulators filed a motion with the court to impose a civil penalty, arguing that the SEC’s demands were excessive. over $10 million.Ripple continues to take a rebellious attitude XRP They are not intended as investment vehicles and should not be classified as securities.

More updates on Ripple and the SEC case

of ripple And the SEC case continues to be a major legal battle that could have significant implications for the broader crypto space and financial industry. Litigation is constantly evolving and new updates and changes occur regularly.

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recently, judge sarah Appointed District Judge for the Southern District of New York. As a result, she is leading the charge against Ripple and the SEC, but has not issued a final judgment on Ripple’s punishment, despite the SEC’s outrageous demands.

Despite Judge Netburn’s pro-cryptocurrency stance, he is determined to give a fair verdict by considering the following cases: both political parties It then determines penalties and the conclusion of the case. Overall, the broader crypto industry is still watching the legal battle unfold. XRP community It supports Ripple’s position and criticizes the SEC’s enforcement actions against the cryptocurrency sector.

XRP falls as lawsuit rages on | Source: XRPUSDT on

Featured image from The Cryptonomist, chart from

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