The next phase of the United States Securities and Exchange Commission (SEC) v. Ripple case is set to move forward, as Judge Analisa Torres of the U.S. District Court for the Southern District of New York filed paperwork on July 17 referring the case to Magistrate Judge Sarah Netburn.
First reported by journalist Eleanor Terrett, the court issued an “amended order of reference to a Magistrate,” transferring judiciary oversight of the case to the magistrate’s office.
NEW: District Judge Torres has referred the @Ripple case to Magistrate Judge Netburn for General Pretrial (includes scheduling, discovery, non-dispositive pre-trial motions and settlement). pic.twitter.com/EyrA3flpXC
— Eleanor Terrett (@EleanorTerrett) July 17, 2023
The single-page document, which was viewed by Cointelegraph, indicates that the next step will be general pretrial. This stage usually entails discovery and a short window to raise objections.
General pretrial is the most likely portion of the proceedings for a settlement to occur. As Cointelegraph recently reported, experts believe that it’s unlikely the SEC will appeal the previous week’s rulings by Torres.
Related: Judge rules XRP is not a security in SEC’s case against Ripple
In a partial victory for Ripple on July 13, Torres ruled to dismiss the allegation that Ripple broke the law by posting its XRP (Go to Source to See Full Article
Author: Tristan Greene
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