The Ripple vs. SEC case will be pushed a month back due to the surging Omicron variant of the Coronavirus in the US. This was revealed in a tweet by Eleanor Terrett who is a well-known journalist at Fox Business.
Eleanor tweeted, “The expert discovery deadline in the Ripple vs. SEC case will be pushed back a month due to the rapid spread of the Omicron variant. A source close to the case tells @FoxBusiness a letter outlining this new motion will be filed in court as early as tomorrow.”
SCOOP: The expert discovery deadline in the Ripple vs. SEC case will be pushed back a month due to the rapid spread of the Omicron variant. A source close to the case tells @FoxBusiness a letter outlining this new motion will be filed in court as early as tomorrow. #XRP
— Eleanor Terrett (@EleanorTerrett) January 12, 2022
SEC vs Ripple case
Before going into the details, it is imperative to know what exactly the case between Ripple and SEC is. The SEC had filed a case on December 22, 2020, against Ripple Labs and two of its executives. The SEC contends that Tipple traded $1.3 billion in their cryptocurrency XRP as security without registering it with the SEC. Ripple and other parties have since countered with claims that the SEC is biased in its assessment.
Most of the companies who have faced the wrath of the SEC often acceded to the demands and went on for a compromise. However, Ripple is not taking the matter lying down and has decided to take the case to its logical conclusion.
Ripple accuses the SEC of bias and applies the definition of “security” to virtual currencies. If this is proven to be true, it would undercut the commission’s authority, not to mention blemish the credibility of their case.
Under SEC regulations, securities must be registered with the commission, and specific financial statements must be publicly disclosed. The objective is to negate fraud and protect the stakes of investors.
- Expert Discovery Deadline Pushed Back A Month In Ripple Vs. SEC Case – Here’s What It Means
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- Bitcoin Miners Resolve to Heavy Accumulation, Here’s Why $40K Is Strong Support for BTC
- Solana (SOL) Network Congestion Issues get worse as Failed Transactions Skyrocket
- 95% of JP Morgan Clients Doubt Bitcoin’s Price can Break $100,000 by the end of 2022
- Dogecoin Enters the Real Estate Segment; Washington’s Gig Harbor Developer Will Take Cryptocurrency
- The Royal Rabbits Club Announces Launch Date with VIP whitelist Already Live
- Cross-Chain Applications Receive A Negative Response From Vitalik Buterin
- Leading Media House Associated Press announces Launching NFT Marketplace, Minting to Happen on Polygon
- Breaking: Polygon Unveils Recursive SNARK Plonky2 That’s 100x Faster, MATIC Jumps 3%
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?
- Polygon Price Analysis: MATIC Price Retesting Weekly and Monthly Support, Here’s Buy the Dip Price Zones
- Binance Coin Price Analysis: BNB Price Loses Another Support; $400 Mark Closing Up
- SHIB Price Analysis: Planning to buy the dip? Check these important SHIB Price Levels
- Bitcoin Price Analysis: Finding Bitcoin Bottom? Falling Prices Inside The Wedge Approach $40K