- SEC had to file its remedy-related opening brief by March 22, 2024.
- SEC is scheduled to meet again with Ripple Labs Inc. on March 25, 2024, to discuss the remedies-related brief.
- A redacted version of the remedied-related brief will be publicized on March 16, 2024.
- Gary Gensler is planning to go after Ethereum (ETH) and declare it a security.
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has gripped the cryptocurrency world.
The latest developments have added a new layer of intrigue to the case and the SEC had to file its remedy-related opening brief by March 22, 2024.
While there were no significant updates from the case for investors to consider on that day, the filing details remain under wraps from public view.
This has increased anticipation among XRP holders regarding the developments in the legal battle.
SEC to meet with Ripple Labs on March 25, 2024, and Public Briefing on March 26
The SEC will be meeting again with Ripple Labs Inc. on March 25, 2024, to discuss and identify redactions on the remedies-related brief discussed in private on March 22, 2024.
However, March 26, 2024, is the big day as the SEC will file a public, redacted version of the remedied-related brief.
XRP investors are anticipating the public briefing and can’t wait to see what it says. This array of meetings comes just days after rumors of Ripple’s lawsuit settlement went rampant on crypto-twitter.
The case, which centers on whether Ripple’s sale of XRP tokens constitutes an unregistered securities offering, has seen several twists and turns. Despite the lack of public updates, the case’s outcome should have far-reaching consequences for the cryptocurrency industry.
A ruling in favor of Ripple could set a precedent for the regulation of digital assets, potentially providing a clearer path for other cryptocurrencies to navigate the complex legal landscape.
On the other hand, a decision that upholds the SEC’s stance could reinforce the need for crypto companies to adhere strictly to securities laws, possibly leading to increased scrutiny and regulatory hurdles for the industry.
As the XRP community awaits legal proceedings to conclude behind closed doors, the Ethereum (ETH) becomes the latest victim of Gary Gensler’s onslaught on cryptocurrencies.
The Chairman of the U.S. SEC is planning to go after ETH and declare it a security. While unexpected at this point in the crypto industry evolution, it doesn’t come as a surprise. Back in April 2018, he publicly stated that both XRP and ETH are likely “noncompliant securities”.
However, the Ethereum community is optimistic that since SEC failed against XRP, it will lose against ETH as well, even though the lawsuit could be a multi-year one.