Ripple proceedings schedule decided, 2th i n July will be a major turning point?

If you do not have an account yet , please create a BINANNCE account and consider investing.

The SEC (US Securities and Exchange Commission) proceedings schedule against Ripple has been formally approved by the court.
In the future, Ripple and the SEC will proceed with the proceedings according to this schedule.

Ripple proceedings scheduled
The court has officially approved the schedule of the Ripple proceedings, which has received a great deal of attention.
In particular, July 2 is the deadline for discovery (discovery), which can be a major turning point.
Discovery (discovery procedure) is a procedure before a trial is conducted, and is a procedure for obtaining evidence from the other party.
Documents are expected to be submitted by 31 March, questionnaires will be completed by 4 June, testimony collection will be completed by 2 July, and expert reports will be by 2 August. ..

And, depending on the outcome of the discovery, Ripple and the SEC may settle, so July 2nd could be a major turning point.
On the other hand, the possibility of a settlement is considered to be low at this point, as both parties have submitted a joint statement that there is no prospect of a settlement.

Current status of Ripple proceedings
Two months have passed since December 22, last year, when the SEC sued Ripple for “selling unlicensed securities.”
Initially, the SEC claimed that Ripple and CEOs Brad Garlinghouse and Christian Larsen sold the XRP for $ 1.3 billion.
However, the complaint amended on February 18 added that Garlinghouse and Larsen intentionally manipulated the price of XRP by increasing or decreasing sales of XRP depending on market conditions.
In response, Ripple submitted a response in January emphasizing that XRP is a cryptocurrency rather than an investment contract.

Although Ripple is arguing, the cryptocurrency industry continues to move away from XRP.
Several exchanges, including major exchanges Coinbase, Bitstamp and Binance.US, have stopped trading XRP, and Grayscale, one of the world’s largest cryptocurrency managers, has abolished Ripple’s investment fund. Since the beginning of February, Prime XBT, a major derivative exchange, has also announced that it will abolish the rise.

I would like to pay attention to the future trends of what will happen to Ripple’s proceedings.

If you do not have an account yet , please create a BINANNCE account and consider investing.

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Translate »