The SEC and Ripple Labs are gearing up for a courtroom showdown in April 2024, after Judge Analisa Torres denied the SEC’s request for an interlocutory appeal on October 3. The verdict of the trial could have a major impact on the crypto landscape. Ripple’s native cryptocurrency XRP spiked 5% following the ruling. In July, Torres found that certain programmatic sales of XRP did not violate securities laws due to a blind bid process, but other direct sales to institutional buyers were deemed securities. The SEC then attempted to expand its appeal to encompass other distributions where XRP was exchanged for goods or services, but Ripple countered by arguing that the conditions needed for interlocutory appeal weren’t met. The trial is set to commence on April 23, 2024, and both parties are now immersed in pretrial preparations. They have until December 4 to submit any motions in limine, with oppositions to any such motions due by December 18. The final pretrial conference is set for April 16, 2024. The case has attracted widespread attention, spotlighting regulatory practices, digital currencies, and the evolving landscape of the financial sector. The outcome of the case could have implications for other crypto platforms like Binance and Coinbase.

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

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	SEC, Analisa Torres, Ripple’s attorneys, SEC representatives, Ripple Labs
Companies	SEC, Howey Test, Coinbase, Binance, Ripple Labs
Currencies	XRP, Bitcoin, Ethereum
Securities	None