The legal battle between Ripple and the US Securities and Exchange Commission (SEC) is reaching its trial phase scheduled for April 23. However, before reaching this crucial point, both parties have been required to address certain court requirements. Recently, the entities demonstrated a collaborative effort by filing a joint letter to tackle sealing issues related to the upcoming remedies briefing.
American lawyer James Filan disclosed that the SEC has filed its opening remedies-related brief and supporting documents under seal. This data is currently not public and a redacted version is expected to be presented no later than March 26. The SEC was granted an extension on the deadline for filing its brief with respect to remedies, which was initially set for March 13. Ripple, on the other hand, is expected to submit its opposition letter by April 22, according to the latest ruling by the magistrates.
The outcome of the legal battle between Ripple and the SEC holds significant implications for XRP. In the event of a Ripple victory, there is a possibility of a price rally for XRP. This anticipation adds another layer of complexity and attention to the ongoing legal proceedings between the two parties.
Proposed Schedule for Redactions
In their joint letter, both Ripple and the SEC proposed a schedule for redactions following the filing of reply briefs. This approach aims to consolidate all sealing issues into one set of letter-briefs, rather than addressing them piecemeal. It also allows sufficient time for the parties to meet and confer, indicating a level of cooperation despite the adversarial nature of the legal battle.
As the Ripple vs. SEC legal battle approaches its trial phase, the collaborative efforts and filings from both parties shed light on the intricacies of the ongoing dispute. The potential resolution of the case not only carries legal implications but also stands to impact the price and future of XRP. The upcoming trial on April 23 will be a crucial juncture in determining the outcome of this long-standing legal battle.