Strict Deadline for SEC Response
In the ongoing legal battle between Ripple and the SEC, Judge Sarah Netburn has ordered the SEC to respond to Ripple’s motion to strike by Monday, April 29, 2024. Ripple has three business days to file a response.
Background
Ripple filed a motion to strike the SEC’s expert materials, arguing that they were filed outside the allotted time frame. Ripple has also rejected the SEC’s $2 billion penalty, claiming it is excessive.
Ripple’s Defense
Ripple maintains that XRP was not intended as an investment vehicle and should not be classified as a security.
Implications
The Ripple-SEC case is closely watched by the crypto industry, as it could have significant implications for the regulation of cryptocurrencies.
Judge Netburn’s Role
Judge Netburn is presiding over the case and is expected to make a final ruling on Ripple’s penalty. She is known for her pro-crypto stance but has stated that she will consider both parties’ arguments before making a decision.
