- Ripple and SEC propose sealing critical details amid ongoing legal dispute.
- Proposed schedule outlines key dates in Ripple vs. SEC lawsuit proceedings.
- XRP community awaits conclusion as disappointment grows over ongoing delays.
In a pivotal development in the Ripple Labs vs. U.S. SEC case, both parties have jointly proposed to seal critical details in a remedies-related briefing. This move aims to keep key information away from public access, pending approval from Judge Analisa Torres of the Southern District of New York. The same judge who confirmed that XRP is not a security.
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The proposal, disclosed by former Federal Prosecutor James K. Filan, suggests that if approved, certain specifics regarding Ripple’s financial statements and post-complaint XRP institutional sales will remain undisclosed to the broader crypto community. This decision could significantly impact market sentiment as uncertainties surrounding the lawsuit’s outcome persist.
The proposed schedule outlines significant dates in the legal proceedings. Firstly, on March 22, SEC files to open remedies-related brief under seal. Secondly, on March 25, the parties will identify redactions. Following after, on March 26, the SEC will release a redacted public version of the brief.
Next, one April 22, Ripple will file an opposition to the brief. Then on May 6, the SEC will file a reply brief under seal. Lastly, on May 20, the parties will file motions related to sealing details. Indeed, this is an anticipating list of events for the crypto community to look forward to. No doubt the XRP Army is already hoping for their much-awaited XRP surge.
While the XRP community eagerly awaits the lawsuit’s conclusion, disappointment mounts over ongoing delays. Pro-XRP lawyer Bill Morgan highlighted the SEC’s intent to keep Ripple’s post-complaint XRP sales contracts confidential to the public. As the lawsuit progresses, all eyes remain on Judge Torres’s decisions, with implications extending to the broader crypto market.
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