The developments in the XRP case do not stop, the court announced that it had approved the request, stating that the SEC requested 2 extensions of the deadline for expert discovery in the “Text-Only” order in its latest decision. Decision Ripple and XRP again interpreted as “negative” for the owners.
JUST ADDED to our Document Library:
✅Order Extending Expert Discovery to January 14, 2022 (Text-Only Order). (1/5) 👇https://t.co/P16CwGWGJO— CryptoLaw (@CryptoLawUS) October 20, 2021
The court stated that both sides (probably) agreed to leave at least 14 experts from office. Besides, Ripple stated that these statements could reasonably be made within “18 business days” given the resources available to the SEC. Furthermore, the defendants and XRP investors claimed that possible delays in resolving this lawsuit could cause serious harm to both XRP investors and Ripple, respectively.
The court considered that this additional time would be beneficial for both parties to discover the pending facts and for the comprehensive preparation of the upcoming expert statements, and therefore answered the request in the affirmative. Additionally, the Court also rejected Attorney Deaton’s “Proposal to File Amicus Summary” on behalf of XRP Holders (Holders) who challenged the SEC’s request for extension.
Although the Court knows that it has the necessary resources on both sides before the necessary decisions can be made under the current circumstances, it considers that the additional time requested by the SEC could create significant time to resolve this case. This additional time was given to help both parties make the necessary discoveries and prepare appropriate statements for expert examinations.
XRP Markets Will Remain “Frozen”
According to Ripple, he argued that during this extension period, Ripple will continue to remain frozen in the US market and therefore bring “undue bias” to Ripple. According to the defendants, almost every digital asset exchange in the US has delisted or suspended XRP trading. He claimed that this also caused serious damage to XRP.
Let’s see how the final decision of the court will affect Ripple’s future in the USA. A positive decision from the US, which appears to be the most important market for the cryptocurrency market, could help strengthen Ripple.