According to the March 23 court order, both sides have listed the following briefing schedule: In the ongoing lawsuit against Ripple, James K. Filan informs that new dates have been set in motion. This is because the SEC is asking the court to change the time limits for filing replies to the parties` applications for summary judgment and sealing. The SEC noted that this was the first request to renew this data, and Ripple agreed. The SEC failed to beat this defense in an important victory for Ripple and the individual defendants, who also saw the court declare its terms to finally side with Ripple fairly. Not to mention all the details of the court, supporters of globalism now in the United States. The date of Ripple`s court is February 22, XRP is a digital currency and cannot go to court. “If this is the case, it would raise legal questions as to whether Ripple was fairly informed that the term `investment contract` covers the distribution of XRP, and the court may need to examine these issues in more detail,” the court said. In an earlier court order, Judge Analisa Torres pointed out which critical factors could be weighed in a future summary judgment on the Fair Notice defense: whether or not XRP was sold as an investment, and whether or not Ripple has a relationship with the vast majority of XRP holders. Ripple dismisses both claims and can make a difference in terms of fair termination, according to the court. While there have been no updates on the ongoing SEC v Ripple case, the next hearing date of November 30 is fast approaching. On this basis, the lawyer believes that the data will have minimal impact on a possible settlement. In this regard, he doesn`t expect this to happen until the end of January: the “SEC filing” mentioned above refers to the plaintiff`s request to inform the court of its position on whether additional disclosure is required.
The application must be filed within one week of the submission of each respondent`s upcoming response, which must be filed on April 8, 2022. In response, Ripple`s defense team said, “This is another transparent attempt to further delay the resolution of this case, and the court should dismiss it.” They will do everything they can to make Xrp win the court. The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), which has been going on since 2020 and will set a precedent for the cryptocurrency industry, could soon come to an end. The SEC and Ripple Labs, the company behind Ripple (XRP), have filed summary motions. The other new dates are as follows: The filing date for redacted public replies has been extended from November 21 to December. 5. The date for the submission of group applications to seal all redaction proposals for all summary judgment documents will be extended from December 9 to December 22, and finally the filing date for appeals against sealing will be extended from December 22 to January 9, 2023. Here`s an update on the history finance.yahoo.com/news/ripple-sec-settlement-unlikely-trial-095106357.html In response, Ripple insisted that the pleadings provide the court with an important perspective on whether investors expect XRP gains.
A recent SEC filing revealed that Ripple had proposed a summary judgment plan with opening briefs and related fillings expected in mid-May. Predictably, the SEC expects to set summary judgment at a later date. Filan also pointed to a Goldman Sachs case in which Judge Torres recently issued a summary ruling to indicate that a court ruling would likely come several months after the briefing ended. He therefore requests that, in view of the pending submissions and the amicus curiae pleadings already filed, the deadline for filing his sealed replies be extended from 15 November to 30 November and that the number of pages of replies to the replies to the amicus curiae pleadings be increased from 45 to 55 pages containing responses to the amicus curiae pleadings in the replies. Does anyone know when the trial date is? “The SEC believes that such a briefing schedule is premature, as individual defendants have not yet responded to the complaint and raised positive defenses, and respectfully requests that the court order the parties to meet and consider a timeline for summary judgment once the SEC informs the court of its position on the need for additional discoveries.” XRP rebounded after the summary judgments were filed in response to the first glance at the end of the court case. It also increased after the recent Hinman decision. #XRPCommunity #SECGov v. #Ripple #XRP The SEC filed an application to extend the deadline for the filing of all parties` response briefs to November 30, 2022, asking the court to order that all additional amicus curiae briefs be filed by November 11, 2022. Ripple agrees. New dates in motion. pic.twitter.com/vBUJV0fVk9 Nevertheless, this timetable would apply in a summary judgment scenario. However, a settlement remains a clear possibility, as Hinman`s mind threatens the SEC.
If the court upholds its decision on the SEC`s internal documents, the SEC is now expected to collapse and seek a settlement. However, unexpected updates on the SEC v Ripple case and FTX debtors need to be heeded. Ripple`s legal team received the documents on October 20. Alderoty tweeted: “More than 18 months and 6 court orders later, we finally have the Hinman documents (internal SEC emails and drafts of his infamous 2018 speech). Although they remain confidential for now (at the SEC`s insistence), I can say that it was worth fighting for. However, Ripple Labs president Chris Larsen and Garlinghouse claimed the sales were legal. Their reasoning was based on the so-called Howey test of a U.S. court case, which determines whether an asset is a security. However, since the publication of the summary of comments, none of the parties has provided an update of the timetable.
The judge`s office, court clerk and SEC were unable to comment on the expected timeline for the case. However, one voice in the XRP community, lawyer Fred Rispoli, doesn`t think it`s going to end anytime soon. He said the SEC is unlikely to agree to release Hinman`s emails without a court order. Two days after the filings, the court considered and granted the request of the Chamber of Digital Commerce, a U.S. advocate for blockchain technology, to file an amicus curiae brief. The letter supported Ripple`s argument. It also requests that the date of the meeting of the parties and the identification of redactions of the responses be postponed from 17 November to 2 December. However, the SEC asked the judge to dismiss those requests. The Commission argued that the letters did not explain the relevance of the ongoing court case. The judge overturned the SEC`s appeal on Sept. 29, 2022, after the commission said it was protected by consultative process privilege.
A move through the 200-day EMA ($0.40677) would support a break of R1 ($0.4089) to put R2 ($0.4217) and $0.43 into play. However, a decline from the 100-day EMA ($0.39103) would put H1 ($0.3880) and the 50-day EMA ($0.38795) in sight. EMAs and the 4-hour candlestick chart (below) sent a more bullish signal. A bullish start to the day pushed XRP to an early high of $0.41365. XRP fell below the first major resistance level (R1) at $0.4213 and slipped to a late low of $0.39277. However, XRP found late support, checking $0.3971 before disappearing again. However, as Filan wrote on Twitter, early submissions could push that schedule forward by a few days. “This suggests that redacted responses will be filed this Friday, 2/2,” Filan said. He tweeted: “There is no regulatory clarity on how crypto should be classified and used in the US, which is why the SEC uses app regulation to place all cryptos under its jurisdiction. This concerns us all.
This is a win for Ripple`s team, as the documents mainly refer to a speech by Hinman at the Yahoo Finance All Markets Summit in 2018, where he said that Ether was not a security. Alderoty also commented on the need for regulation. He Capital.com said, “We will continue to fight this case so that the industry can get the regulatory clarity it desperately needs for crypto innovation to thrive in the United States.” It`s already February 22, does anyone know the trial date? Documents relating to William Hinman`s speech and amicus curiae memoirs are likely to be areas of interest. Although the defendants have the documents in their possession, the SEC will want to prevent the public from accessing the Hinman documents.