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Could Never Ending Ripple and SEC Lawsuit Get Critical Deadlines in January?

by BSCN

December 11, 2022

Several recent milestones in the trial have made the end look near. Wil we have an answer by January?

Ripple and SEC Ask for Court Key Dates

The famed lawsuit between Ripple (XRP) and the Securities and Exchange Commission could be entering a final stage. Both sides appear to want a quick finish to the two-year episode.

Both parties have requested the presiding judge to set a deadline of January 4, 2023 for non-parties to submit sealing arguments and January 18, 2023 for any parties or non-parties to file oppositions to non-party sealing motions.

#XRPCommunity #SECGov v. #Ripple #XRP Parties request that the Court set a deadline of January 4, 2023 by which non-parties must ask to seal any portions of the Summary Judgment Materials or else waive any objections to the Court's ruling on the Parties' sealing applications. pic.twitter.com/J16zv6URDp
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 9, 2022

The SEC and Ripple have until December 22nd to each file their own sealing motions.

The lawsuit, which began in 2020 when the SEC sued Ripple, recently when through a final round of briefs that brought the case closer to the ever-elusive summary judgment.

Ripple CEO Stuart Alderoty also expressed how this looks to be the beginning of the end to the whole process.

As we hit the beginning of the end with the SEC lawsuit, I couldn’t have asked for a better team to be part of. Thankful everyday for my equally inimitable colleagues at @Ripple! https://t.co/GOc84T1WH8
— Stuart Alderoty (@s_alderoty) December 6, 2022

Many say that the fate of this case will set a domino effect on the crypto industry regarding how cryptos are viewed in regard to securities laws. The SEC sued Ripple for its failure to register its offers and sales of XRP as securities.

Worse case scenario is Ripple settles, but I don’t know if they’ll provide clarity for the entire industry.
— David Gokhshtein (@davidgokhshtein) December 11, 2022

The whole crypto industry waits in anticipation.