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SEC vs Ripple: The briefing schedule deadline is set. What happens next?

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XRP community speculates whether the SEC’s pending case against Ripple would result in a settlement or dismissal
The speculation comes as a District Court Judge sets 9 November as the deadline for the briefing schedule

The US Securities and Exchange Commission’s (SEC) case against Ripple continues to move forward. This was despite the regulatory body’s consecutive losses against the crypto firm. In the latest development, Judge Analisa Torres has given a briefing schedule deadline to both parties.

Still battling it out…

With the deadline set for 9 November 2023, both parties are required to “jointly propose a briefing schedule with regard to remedies, or, if the parties cannot agree, shall jointly request that the Court set a briefing schedule.”

The fresh order came a day after the court officially dropped all charges against Ripple’s Brad Garlinghouse and Chris Larsen. Judge Torres approved SEC’s move to dismiss charges against them for their alleged role in “aiding and abetting” the institutional sale of XRP.

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This officially vindicated Larsen and Garlinghouse of any wrongdoings in terms of securities law violations. Moreover, this also eliminated the need for holding a trial. Note that the trial was initially set to take place during the July 2023 verdict.

With the executives’ case dissolved, the case against the company’s role in the institutional sale of XRP, which the court deemed formed an investment contract, still stands. And, today’s (24 October) court order was pertaining to the action Ripple and SEC would take with regard to this matter. The order has some of the community members speculating a settlement, while some expressed Go to Source to See Full Article
Author: Priya NV

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