Judge Sarah Netburn of the United States Securities and Exchange Commission (SEC) Ripple He accepted the request for an extension of time for his case.
The purpose of the extension request, which was submitted to the court by the plaintiff on March 21, was explained as determining whether further exploration is required.
Ripple Objected to SEC’s Request to the Court
The defending party, Brad Garlinghouse, CEO of Ripple, and Chris Larsen, the company’s co-founder, objected to the SEC’s request to the court and wrote to the court, claiming that the SEC was deliberately trying to slow down the litigation process.
Ripple attorney general Stuart Alderoty urged the competent authority to publicly commit to moving the case as quickly as possible without further delay.
SEC Will Have A Week After April 8
As stated by former federal prosecutor James K. Filan, individual defenders must submit their answers by April 8. The SEC will have to notify the judge within a week after April 8 whether it needs to conduct additional discovery for the Ripple case.
with the SEC earlier this month. XRP There was a new development in the case between the two and the court dismissed the SEC’s objection to the defense of XRP. However, Garlinghouse, in his statement a short time ago, said that he was satisfied with the latest developments in the course of the case.
The beginning of the company’s legal fight with the SEC goes back to December 2020. While the course of the case has been in limbo for months, with the latest in accessing the SEC’s own internal documents, the case may be approaching a verdict.
*Not investment advice.