INDIA – The case between XRP and the Securities and Exchange Commission continues, revealing more and more developments. The XRP and the SEC have agreed to extend the timeline to consider all factors that affect this case. The SEC filed the case in December of 2020, and since then, the SEC has been deemed to be using delaying tactics, prolonging the process. This battle was believed to end by March 2023.
However, things might take a different turn, and the court might resolve this case before Christmas this year. With the new developments in this case, expert testimonies need to be briefed fully by August 30th this year, and the monitor for the summary judgments must be briefed fully by November 15th this year.
Still, you cannot conclude who will win the case yet, but experts believe that XRP holders might enjoy the Christmas season with these new timelines.
These concrete dates help Ripple and its two executives because both parties can already plan accordingly, which means that the SEC has fewer chances to use delaying tactics now. Other people believe that this case will open new doors and clarity for other tokens in the market regarding the SEC’s ruling on whether an asset is a security or a utility.
The SEC is believed to chase down some of these cryptocurrency assets even if the rules are not clear enough to break the barriers of technicalities. It just shows that the SEC can do what they want in terms of regulations, and people are hoping that XRP will prove it wrong as it argues its case.
XRP is also standing on a solid foundation of William Hinman, former director of the SEC, giving his opinion about the Ethereum, saying that it is not a security. This fact shows that the SEC might show partiality if it has a vested interest. Hinman has been quiet about it since then.