US SEC gets a minor win in the legal dispute with Ripple Labs

US SEC gets a minor win in the legal dispute with Ripple Labs
фото показано с : invezz.com

2022-3-24 09:53

The case against Ripple Labs has taken another twist days after Ripple scored a minor victory and this time it is the US Securities and Exchange Commission (SEC) that has scored a small victory. The SEC has been allowed an extension to provide a discovery schedule relating to two individual defendants namely Chris Larsen (Ripple Lab co-founder) and Brad Garlinghouse (Ripple Lab CEO).

The bitter legal battle between the SEC and Ripple Labs started in Late December 2020 when the SEC accused Ripple Labs of making $1.3 billion from an unregistered Security Token Offering (STO) using its native token, XRP.

But Ripple Labs has stood its ground stating that the XRP token is not a security but rather a method for facilitating international payments. Ripple has also argued that the SEC failed to give Ripple fair notice about its token being a security.

The legal battle has dragged for years

While the ruling is a win for the SEC, some onlookers believe the SEC is dragging its feet and slowing down the case to frustrate Ripple Labs.

Ripple Labs has boar the burden of the case for about two years now and it is the XRP token that has taken the greatest hit to an extent of being delisted from a majority of crypto exchanges since they fear being indicated of offering a ‘security’ instead of a cryptocurrency.

What the granted extension mean

According to the court ruling:

“The SEC shall inform the Court of its position on whether any additional discovery is required within a week of the filing of the Individual Defendants.”

The extension gives the defendants until April 8 to submit an answer to the SEC’s complaints and the SEC’s decision on the additional discovery is scheduled for April 15 with a joint proposed scheduling order set for April 22. However, these dates are not cast on stone; they can be altered depending on how fast Ripple Labs moves.

According to the order:

“The filing of the Individual Defendants’ Answer is the triggering event. When the Answer is filed, even if before April 8th, the date the Answer is filed starts the two-week clock running for the filing of the SEC position on discovery and the Joint Proposed Scheduling Order.”

The post US SEC gets a minor win in the legal dispute with Ripple Labs appeared first on Invezz.

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Ripple (XRP) на Currencies.ru

$ 0.5243 (+0.01%)
Объем 24H $786.396m
Изменеия 24h: 0.83 %, 7d: 4.43 %
Cегодня L: $0.5225 - H: $0.5244
Капитализация $28.985b Rank 7
Цена в час новости $ 0.8357 (-37.26%)

ripple sec labs minor legal victory scored

Источник: invezz.com

ripple sec → Результатов: 126


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The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a long and arduous one, with both sides presenting their arguments in court. As the case nears its conclusion, many in the XRP community are speculating about the potential impact a favorable ruling for Ripple could have on the price […] The post Why Ripple May Never Deliver Substantial Profit Despite a Win Against SEC: XRP Bulls Eye This 30% Short-Term Move appeared first on CaptainAltcoin.

2024-5-4 21:45


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Ripple CEO criticizes SEC for stifling crypto innovation with aggressive enforcement

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SEC сняла обвинения против руководителей Ripple

Комиссия по ценным бумагам и биржам США (SEC) добровольно сняла обвинения с генерального директора Ripple Брэда Гарлингхауса и сооснователя компании Криса Ларсена, в результате чего курс XRP вырос до $0,5309.

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Компания Ripple пригласила криптосообщество на торжественное мероприятие по случаю победы в судебном споре с Комиссией по ценным бумагам и биржам США (SEC). В официальном уведомлении компания Ripple сообщила, что мероприятие состоится 29 сентября в самом центре Нью-Йорка.

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SEC moves to appeal Ripple’s earlier victory

The U.S. Securities and Exchange Commission (SEC) moved to file an interlocutory appeal against Ripple on Aug. 18 as part of its ongoing case against the firm. Judge Analisa Torres in the Southern District of New York previously issued rulings on Ripple’s programmatic exchange sales of XRP and its distributions of XRP as payment for […] The post SEC moves to appeal Ripple’s earlier victory appeared first on CryptoSlate.

2023-8-19 00:20


Judge grants SEC request to file appeal in Ripple case

Judge Analisa Torres has allowed SEC to file an appeal against July 13 ruling on XRP. SEC to file by August 18 and Ripple to respond by September 1. The latest Ripple news is that Judge Analisa Torres, who ruled in July that public sales of XRP did not constitute an investment contract and thus […] The post Judge grants SEC request to file appeal in Ripple case appeared first on CoinJournal.

2023-8-18 22:49


Ripple требует отклонить апелляцию SEC

Компания Ripple Labs выступила против апелляции Комиссии по ценным бумагам и биржам США (SEC) на решение суда о непризнании токена XRP ценной бумагой. В письме суду юристы Ripple объяснили, что SEC не смогла выполнить тест Хауи в отношении XRP.

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