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Ripple v. SEC court case update as of April 26, 2024

Ripple v. SEC court case update as of April 26, 2024

As the cryptocurrency community awaits the final outcome of the legal battle between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple, Magistrate Judge Sarah Netburn has set the schedule for the court case’s most recent motion.

Specifically, Judge Netburn has entered a scheduling order regarding Ripple’s Motion to Strike new expert materials that the SEC has submitted in support of its Motion for Remedies and Entry of Final Judgment, according to the information shared by defense attorney James K. Filan on April 26.

Due dates for motion replies

Notably, as per this order, which the former federal prosecutor and popular commentator on the case published in an X post, the securities regulator has until April 29, 2024, to file its response to Ripple’s motion, after which the blockchain firm has three business days to file a reply.

Judge Netburn’s scheduling order. Source: James K. Filan
Judge Netburn’s scheduling order. Source: James K. Filan

As a reminder, Ripple has earlier filed a Motion to Strike the SEC’s new expert materials “in the form of a declaration and two supporting exhibits prepared by new expert witness Andrea Fox,” arguing that Fox’s declaration represents ill-timed “sandbagging,” as Finbold reported on April 23.

In addition, Ripple’s Opposition to the SEC’s Motion for Remedies and Entry of Final Judgement, in which the agency seeks $2 billion in damages over institutional XRP sales, argues that the regulator has failed to prove the likelihood of future violations or reckless disregard for the law.

Elsewhere, the crypto community has enthusiastically received the news of Judge Netburn’s nomination to serve as a US District Judge for the Southern District of New York, with pro-XRP lawyer Bill Morgan praising her decisions in the Ripple v. SEC case and observing that she deserved her appointment.

Meanwhile, the XRP token, which has been at the center of the protracted courtroom standoff, was at press time trading at the price of $0.5271, which suggests a 0.62% gain on the day, an increase of 7.23% across the week, as it recovers from the 15% loss over the past month, as per data on April 26.

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