Another adjournment in the SEC and Ripple case…Details here


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The Ripple issue is still going on and it seems that it will continue more and the two sides will continue to present their arguments.

Recently, US District Judge Sarah Nitburn granted a request to postpone the deadline for conducting the discovery of documents and merits in the case between the US Securities and Exchange Commission and San Francisco-based blockchain firm Ripple.

The postponement will continue until February 28.

The parties have jointly requested the extension in order to make additional statements.

Currently, there are eight expert witnesses who have yet to testify due to travel restrictions and personal issues.

The discovery phase was due to end on January 19.

Last week, the US Securities and Exchange Commission submitted a supplemental authorization letter in order to bolster its move to strike at Ripple’s defense, citing a recent ruling in another case.

The defendants responded to the commission’s allegations, arguing that it had misapplied the latest ruling.

Ripple’s general counsel, Stuart Alderoty, recently urged the Securities and Exchange Commission to speed up the litigation process, asserting that the agency created an uneven playing field for the cryptocurrency industry.

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The Securities and Exchange Commission (SEC) filed the lawsuit against Ripple in December 2020, arguing that the cryptocurrency XRP is a security.

Ripple’s legal team is now competing to see why Bitcoin and Ethereum adhere to different standards.

The discovery deadline has been pushed back four times.

It was originally postponed from October 12 to November 15.

The discovery phase was then extended to January 14 and January 19 before the deadline was eventually pushed back to February.

Ripple CEO Brad Garlinghouse said the lawsuit against his company was an attack on the entire crypto industry.

Read also:

The number of bitcoins issued and transferred from cryptocurrency exchanges to private wallets increased

Bank of America: Solana Can Overtake Ethereum and Become a Visa Cryptocurrency

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