In the latest update to the XRP case, the SEC has requested the Court to extend the rebuttal report deadline to November 12, 2021, and the expert discovery deadline from November 12, 2021 to January 14, 2022. The plaintiff noted that the extension would allow sufficient time for both parties to prepare objection reports and to refer to the statements of at least 14 experts.
While Ripple has consented to extending the appeal report deadline until November 12, it is opposing the January 14 deadline as the case could cause XRP to miss its bull run entirely. Following this, the SEC proposed another deadline of December 22, but the firm did not agree to that either.
Ripple argues that the extension will “most likely affect the briefing schedule for the summary decision motion” because after December 10, 2021, the Thanksgiving holidays will begin.
“[…] expert discovery program of December 10, 2021 –Ripple’s claims will provide enough time for parties to complete at least 14 expert statements in 18 business days, given the Thanksgiving holiday- extending it beyond “probably will affect the briefing schedule for the summary decision action(s).”
But while the SEC maintains its stance that the extension “wouldn’t affect any other deadlines in this case,” it disagrees that 14 days is enough to conduct the testimony of 14 experts.
The SEC also pointed to the delay caused by the expiration of Ripple in the production of various documents and did not offer a set date for completing the same transaction.
As mentioned above, Ripple’s opposition could also stem from continued action in the spot market and ongoing litigation potentially hampering the value of XRP. However, the SEC’s concerns are about the status of XRP. If the authority convinces the Court to extend both deadlines and the rally continues, we may see some impact in the XRP market.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.