Ripple vs. SEC: Significant Date Change Occurs as Deadline Approaches, Settlement Imminent

The deadline for remedies in the legal battle between Ripple Labs and the SEC has been extended, raising questions about the conduct of the SEC. Both sides have deadlines for responding, with the final SEC submission due on March 13th. The discovery phase, which focuses on “remedies” related to XRP sales, is reaching a crucial point on February 20th. This phase is significant as it has the potential to reveal important information that could influence the court’s decision on appropriate actions against Ripple.

Contrary to expectations, tomorrow’s deadline is not decisive in the Ripple vs SEC lawsuit. Analyst Ashley Prosper clarified that tomorrow is the extended deadline for remedies-related discovery, and the public will not see any information from Ripple until the SEC files its brief on March 13th. The final decision is also not expected in April as previously thought. Final submissions for remedies are due on April 29th, and a verdict from Judge Torres may not happen until July or August, or even later. Prosper suggests that a settlement might be the best way to conclude the case by April, offering a fresh perspective.

There are concerns about the SEC’s conduct amidst the legal complexities. Bill Morgan criticizes the agency for not correcting misleading statements to the court and calls for repercussions on professional misconduct grounds. The SEC is eager to wrap up the case and is seeking penalties against Ripple for not registering XRP as a security. The clock is ticking, and last-minute filings could impact the schedule. The SEC has until March 13th to file, Ripple by April 12th, and the SEC can respond by April 19th.

These recent developments highlight the complex and contentious nature of the Ripple vs SEC lawsuit. As the legal drama unfolds, all eyes are on the courtroom, and the crypto community eagerly awaits further deliberations and potential outcomes.