SEC In a new development, he announced that he was planning a meeting behind closed doors on Thursday, November 30. The undisclosed agenda includes important issues such as taking and resolving interim measures, administrative proceedings, resolving litigation claims, and other matters related to investigations and enforcement proceedings.
Koinfinans.com While the SEC’s official announcement refrained from naming Ripple or XRP directly, as we reported at XRP It reignited speculation within the community. Discussions surrounding the potential resolution of ongoing litigation in what has been dubbed the “XRP lawsuit” have intensified given the confidential nature of the upcoming meeting. Key dates have been set, as both Ripple and the SEC must complete their exploration of solutions by February 12, 2024.
The SEC then has until mid-March to submit briefs outlining the solutions it is seeking. Ripple will have one month to file any objections. The SEC will be given a final opportunity to respond to Ripple’s opposition by the last week of April before a judge decides on any remedy.
The crux of the contention remains the staggering $770 million fine levied on Ripple on July 13, marking a significant breakthrough in the XRP case. Prominent crypto- While legal experts expect the final figure to be reduced, the road to a solution is expected to be difficult with complex discussions and negotiations.
Against this backdrop, investors are eagerly awaiting the outcome of the SEC’s special meeting, which could potentially pave the way for a resolution in the Ripple case and impact XRP’s future trajectory in the crypto market.