Important Dates Revealed in Ongoing Ripple vs. SEC Legal Case
New details have emerged in the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). A scheduling order has been entered by the US judge in the United States District Court for the Southern District of New York, pertaining to Ripple’s motion to remove new specialized materials filed by the SEC in support of its document on remedies and final judgment.
The SEC has until April 29 to submit a response to Ripple’s motion, while Ripple will have three business days to present its own response.
It is worth noting that Ripple recently voiced its opposition to the proposed $2 billion fine imposed by the SEC. Stuart Alderoty, Ripple’s chief legal officer, made a public statement expressing the company’s disagreement with the SEC’s order.
Ripple Challenges SEC’s $2 Billion Fine
Ripple, a leading player in the cryptocurrency XRP, has formally opposed the SEC’s request for the company to pay a hefty fine of approximately $2 billion. On April 22, Ripple filed a court document in response to the SEC’s demand.
Last month, the SEC announced its intention to impose a $2 billion fine on Ripple Labs, escalating the ongoing dispute between regulators and crypto entities. Stuart Alderoty, Ripple’s chief legal officer, publicly revealed the company’s opposition to the SEC’s order.
“Our objection to the SEC’s demand for $2 billion in fines for legacy institutional sales is now public. Despite no allegations or findings of recklessness or fraud, and despite Ripple’s success on significant issues, the SEC’s order is further evidence of its ongoing harassment of all cryptocurrencies in the US. We trust that the judge will approach the final phase of resolution with fairness,” Alderoty wrote in a post on X on April 22.
Disclaimer: The opinions and views expressed in this article, as well as any individuals mentioned, are strictly for informational purposes and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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