Ripple vs. SEC Legal Battle: Key Dates Set for 2024
Date: 2024-01-03 Author: Dima Zakharov Categories: IN WORLD
The cryptocurrency community eagerly awaits the legal proceedings of the Ripple vs. SEC case, which are scheduled to take place in February, March, and April 2024. In a recent YouTube video, crypto analyst Zak Hamfries outlined the crucial dates for this legal battle that could significantly impact the entire industry.
February 12th is expected to be a significant day, as it marks a "deep dive" into legal briefings, laying the groundwork for the upcoming court battle. The outcome of this case could have far-reaching consequences.
On March 13th, SEC representatives will present their perspective after assessing the situation. One of the key issues to be contested by the SEC is the sale of XRP to institutional investors.
In July 2023, a U.S. federal court ruled that XRP is not a security, contradicting the SEC's claims in the lawsuit. However, the court did partially favor the SEC by defining Ripple's XRP sales to organizations as an unregistered investment contract with securities.
Another crucial date in the case's timeline is April 12th, 2024, when Ripple intends to present its counterarguments against the SEC's allegations.
With a short gap, on April 29th, the SEC is expected to respond. The final resolution may be reached by the end of April or in May 2024, ultimately concluding the legal battle that commenced in 2020. Cryptocurrency enthusiasts and industry observers worldwide are eagerly awaiting the outcome of this landmark case.
