All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Ripple faces key dates in 2024 in its SEC lawsuit, with hopes of a settlement after charges dropped.
- February 12 and March 13, 2024 are crucial for Ripple and the SEC, possibly defining the future of XRP.
The lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) enters its final stage, marking a pivotal moment for the future of XRP. Since its inception in December 2020, when the SEC accused Ripple and its founders, Brad Garlinghouse and Chris Larsen, of violating securities laws by classifying XRP as a security, the case has generated a great deal of attention.
So far, Ripple has scored significant victories. In July, a U.S. District Court ruled that XRP transactions made by common investors in blind bid-ask transactions did not constitute securities transactions. This decision was instrumental in XRP’s reinstatement on multiple exchanges and in reaching a new yearly high for its cryptocurrency.
#Ripple #JUST2MoreMonths to go!!
The Ripple vs SEC lawsuit is hoping to conclude in 2024, but what are the key dates to mark in your calendar? Here's a breakdown:
-12th Feb 2024: Remedies briefing begins
-13th March 2024: SEC files remedies brief
-12th April 2024: Ripple… pic.twitter.com/it1au1lagJ— Flip The Chain (@flipthechain) December 16, 2023
In an unexpected twist in October, the SEC dropped its pending lawsuits against Garlinghouse and Larsen, a move that has raised hopes for a potential settlement between Ripple and the SEC in the coming months.
However, the settlement could take time, as the July ruling also affirmed that Ripple’s direct sales of XRP to institutional investors could qualify as securities transactions. This issue will be central to the negotiations to reach a resolution.
Court documents reveal key dates for XRP holders in the first quarter of 2024. February 12, 2024 is the deadline set by the court for both parties to complete discovery related to remedies. This process would allow Ripple and the SEC to share potential remedies to resolve the ongoing dispute.
The SEC is due to file its brief on remedies on March 13, 2024, while Ripple will file its opposition on April 12, 2024. Then, the SEC will have until April 29, 2024 to respond to Ripple’s opposition.
Successful completion of this phase of the legal process could open the door for Ripple and the SEC to bring the lawsuit to a climax. With Ripple’s legal team anticipating a settlement in 2024, such an outcome is more likely than unlikely.
In the meantime, the potential impact of a full settlement between Ripple and the SEC on the price of XRP remains a matter of speculation. Only time will reveal how the cryptocurrency price will react to this important development.
