- The SEC’s ongoing case against Ripple takes a new turn as Judge Analisa Torres sets a briefing schedule deadline, sparking widespread speculation on the case’s potential outcomes.
- Ripple’s executives, Brad Garlinghouse and Chris Larsen, find relief as the court dismisses all charges against them, shifting the focus solely onto Ripple’s institutional sale of XRP.
A New Phase in the Legal Battle
The legal skirmish between the U.S. Securities and Exchange Commission (SEC) and Ripple, a titan in the cryptocurrency sphere, continues to unfold, capturing the attention of the crypto community and legal enthusiasts alike. Despite a series of setbacks for the SEC, the latest development sees Judge Analisa Torres setting a firm deadline for both parties to propose a joint briefing schedule, marking a pivotal moment in this ongoing saga.
Key Developments and Implications
With the 9th of November, 2023, etched as the crucial date, both Ripple and the SEC are mandated to collaboratively propose a briefing schedule concerning remedies. In an intriguing turn of events, this order follows closely on the heels of the court’s decision to dismiss all charges against Ripple’s executives, Brad Garlinghouse and Chris Larsen, effectively absolving them of allegations related to securities law violations.
This dismissal not only spares the executives from further legal turmoil but also negates the necessity of a trial, initially slated for a July 2023 verdict. The spotlight now shifts to Ripple’s institutional sale of XRP, perceived by the court as forming an investment contract, an aspect still under legal scrutiny.
Community Speculations and Expectations
This latest court order has set the rumor mill in motion, with members of the XRP community speculating various outcomes ranging from a potential settlement to dismissal, the latter being viewed by some as an even more favorable resolution.
As this legal drama continues to unfold, it is noteworthy to mention the contrasting fate of LBRY in its legal tussle with the SEC. Unlike Ripple, LBRY faced a stinging defeat, resulting in substantial fines and a ceasing of future offerings, eventually leading to the winding down of its operations.
With these developments casting long shadows, the crypto and legal communities alike wait with bated breath, eager to witness the next chapter in the SEC vs Ripple saga, as the briefing schedule deadline looms on the horizon.
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