XRP Lawsuit: Judge Sets Jury Trial Date for Ripple-SEC Case in 2024
In a recent development in the Ripple lawsuit, Judge Analisa Torres has announced that the Southern District Court of New York will schedule a jury trial for the case in the second quarter of 2024. This decision comes after a ruling on July 13, 2023, which stated that the retail sale of XRP tokens does not constitute securities, a significant victory for XRP token holders. The Judge has instructed both Ripple and the US Securities and Exchange Commission (SEC) to submit blackout dates for trial by August 23, 2023.
Main Breakdown:
- Judge Torres orders a jury trial for the Ripple-SEC case in the second quarter of 2024.
- The ruling on July 13, 2023, states that the retail sale of XRP tokens is not considered securities.
- Ripple and the SEC must submit blackout dates for trial by August 23, 2023.
- Pretrial files and motions in limine can be submitted by December 4, 2023.
- The trial date will determine the final pretrial conference date.
Stuart Alderoty, the Chief Legal Officer at Ripple, has not yet commented on the Judge’s order. It remains to be seen whether the XRP price will experience a bullish trend leading up to the trial in 2024.
Hot Take:
The scheduling of a jury trial for the Ripple-SEC case in 2024 is a significant development for the crypto market. This trial will determine the future of XRP and its classification as a security. The outcome will have implications for the entire cryptocurrency industry. Crypto enthusiasts and investors should closely follow the proceedings of this case to stay informed about the potential impact on the market.
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