Ripple, a prominent name in the crypto sector, has recently achieved another success in its ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). Judge Analisa Torres denied the SEC’s motion for certification of interlocutory appeal and dismissed their request for a stay. This means that the lawsuit will proceed without any further delays. Judge Torres has outlined the significant milestones for the Ripple vs. SEC saga, with the trial scheduled to commence on April 23, 2024. All parties are expected to present their motions in limine, finalize all obligatory pretrial filings, and introduce the required documentary exhibits to the court by December 4, 2023. The SEC officially charged Ripple and its executives in December 2020, accusing them of illicit proposal and sale of securities, contradicting Section 5 of the Securities Act. However, the court partially approved and partially denied the entities’ summary judgment cross-motions in July 2023. The court’s evaluation discerned that while Ripple’s institutional sales were indeed offers or sales of investment contracts, its programmatic sales and other distributions stood exempt. The court also clarified that Chris Larsen and Brad Garlinghouse’s “individual sales” did not classify as offers or sales of investment contracts.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	SEC, Ripple., Brad Garlinghouse, Analisa Torres, Chris Larsen
Companies	April 16, Section 5 of the Securities Act, eToro, 2024, Ripple, U.S. Securities and Exchange Commission (SEC)
Currencies	US Dollar, Ethereum, Sector, XRP, Bitcoin
Securities	None