Ripple and the U.S. Securities and Exchange Commission (SEC), of XRP The legal struggle over its status has entered a new phase.
District Judge Analisa Torres referred the case to Magistrate Sarah Netburn for general pre-trial proceedings, according to a court order filed July 16.
The ruling states that Judge Netburn will consider all aspects of the trial and discovery in the case, including timing, unfavorable motions and reconciliation.
The resolution also states that the parties should agree on three mutually convenient dates for a conciliation conference if they believe it will be productive at this time.
The conciliation conference should be scheduled six to eight weeks in advance due to the court’s busy schedule.
As we reported on Bitcoinsistemi.com, the application to Judge Netburn was confirmed by Judge Torres last week for XRP. cryptocurrency It came after he decided that it was not a security when sold on its stock exchanges, but was only a security when issued by Ripple to institutional investors.
This was a partial victory for Ripple, which argues that XRP is a currency and not an SEC regulated security.
*Not investment advice.
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