New accusations against the regulator have emerged in the Ripple-SEC case, which has been on the agenda of the market since 2020. XRP price also ends the positive expectations with a rally as usual. The following dates in October will be critical to catching the next one.
Pay attention to these dates in the Ripple and SEC case
As the fintech giant gets stronger in the case, expectations are emerging that positively affect the XRP price. In the latest developments, trial judge Analisa Torres has decided to publish speeches by former SEC authority William Hinman in which he said Ethereum is not a security. The SEC has been wanting to cover up these documents for a while. According to James K. Filan, a lawyer who has followed the case closely:
If the SEC decides to submit a motion to reconsider Judge Torres’ decision regarding the SEC appeals regarding the Hinman documents, it will last until October 13.
October 13 will also be the date when the US CPI data is released.
Attorney James K. Filan had previously stated that the SEC would take a series of key steps to avoid exposing the Hinman documents. First, the SEC can ask Judge Torres to reconsider the SEC’s decision, which overturns his appeal. Second, the SEC can bypass the reconsideration request. The organizer also has leverage to ask Judge Torres to uphold his appeal of today’s decision. The third will be to go directly to the Court of Appeal on a Petition for the Mandamus Letter. But Filan says these maneuvers have a low probability of success.
Here are the upcoming dates
- On October 18, the parties will submit all documents regarding appeals against the summary decision, including abstracts and supporting exhibits, in sealed form.
- On October 20, they will meet and consult to determine the redactions requested in the opposition summaries.
- On October 24, they are required to submit publicly available versions of their opposition summaries.
- On November 15, they will submit their provisionally sealed summary decision response summaries.
- On 17 November, the parties will meet to identify the revisions requested by both parties in the response summaries.
- By November 21, the parties are required to submit publicly available versions of their response summaries.
- On December 9, they will submit a collective motion to seal all records on summary resolutions.
- 22 December, they will appeal multi-purpose motions to seal later.
Meanwhile, Ripple and the SEC’s lawsuit isn’t just confined to the courtroom. The issue is often featured in the media with both sides criticizing each other. Just this month, Ripple has been the subject of heated exchange through articles published by the Wall Street Journal. cryptocoin.comAs you follow, on August 10, SEC Chairman Gary Gensler reiterated his stance on the definition and oversight of cryptocurrencies in his article in The Wall Street Journal.
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