with the U.S. Securities and Exchange Commission (SEC). Ripple The long-running legal fight between Labs has progressed with a new court document. According to the latest development, both sides have prepared a joint draft of sealed briefing documents on upcoming deal options.
Ripple and SEC Submit Joint Proposal
As we reported as Koinfinans.com, the indirectly expressed joint offer aims to provide the public with quick access to the summaries by making the necessary arrangements in a timely manner.
On March 22, 2024, the U.S. SEC will file summary and supporting statements and exhibits related to the opening resolutions, but the documents will remain sealed. The parties will meet and negotiate by March 25 to determine the arrangements requested by each party and third parties.
On March 26, the commission will file a public, edited version of the summary, but that will need to be preceded by the requested interim edits. The SEC will also file any supporting exhibits in the XRP case that are not marked Confidential or Top Secret.
Ripple will make a public, edited version of the opposition brief and other supporting materials available on April 22. However, it will depend on whether these documents refer to any material marked Confidential or Top Secret by the SEC.
The document states that if Ripple’s opposition brief and materials contain any Confidential materials, the defendants will file the brief and materials under seal on April 22. Afterwards, the parties will meet and negotiate on April 23 to determine the regulations. The next day, Ripple will make the opposition brief available to the public as a redacted version with edits.
XRP Lawsuit Will Continue in May
After all the legal procedures in April, the fight for legal delivery will continue in May. The SEC will file its response brief under seal on May 6. The following day, the parties will meet to determine the arrangements for the response text.
The commission will make a public, redacted version of the response available on May 8. However, by May 13, parties and third parties will submit class letter petitions to have all materials sealed. This is about briefing on remedies.
The report stated that on May 20, the parties and third parties will submit letter summaries against the previous cases.
While the timeline of the case indicates that the XRP case could drag on for several more months, crypto- The community expects an outcome soon. Ripple’s XRP price continues to decline due to ongoing legal turmoil. XRP price has decreased by 15% in the last 7 days.
