After three years of legal battles, the Ripple vs SEC lawsuit is entering its next phase in 2024. The focus now shifts to the remedies stage, with several key dates to mark in the calendar.

On February 12, 2024, the remedies-related discovery phase will conclude, marking the end of the fact-finding process. This sets the stage for the subsequent steps in the legal dispute.

On March 13, 2024, the SEC will file its brief on remedies, providing insights into the regulatory body’s stance and potential sanctions or remedies against Ripple.

April 12, 2024, is the deadline for Ripple’s opposition filing, which will play a crucial role in shaping the final phase of the legal dispute.

If necessary, the SEC will have until April 29, 2024, to present its final argument in the form of a reply.

Meanwhile, Ripple’s Chief Legal Officer, Stuart Alderoty, has disclosed details about a settlement proposal from the SEC that preceded the agency’s lawsuit in December 2020. The SEC accused Ripple, co-founder Christian Larsen, and CEO Bradley Garlinghouse of conducting an unregistered digital asset securities offering.

Alderoty revealed that before the lawsuit, the SEC offered a settlement in which XRP would be classified as a security, giving the market a short window to come into compliance. However, the SEC failed to establish clear guidelines for cryptocurrency compliance, leading to criticism and companies relocating overseas.

As the legal battle continues, XRP has underperformed compared to other altcoins, currently trading at $0.61 with a market cap of $33.3 billion.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	Stuart Alderoty, Brad Garlinghouse, Chris Larsen
Companies	U.S. Securities and Exchange Commission (SEC), Ripple Labs, Binance, Coinbase
Currencies	XRP
Securities	None