More On: ripple lawsuit update
In the coming weeks, President Biden will nominate a former Ripple adviser to be the Fed's Vice-Chair for Supervision.
SEC v. Ripple case timetable provided by James K. Filan, a Connecticut-based securities litigation and regulatory compliance attorney.
A precedent-setting case like SEC v. Rippling is expected to have a ripple effect on how digital assets are handled by financial services businesses and regulators worldwide, and Ripple's decision will be closely watched by investors and regulators alike.
It has been said that the Fair Notice is the most important issue here because of the potential it has to undermine the SEC's regulatory through enforcement strategy. In a recent decision, Judge Analisa Torres rejected the SEC's petition to dismiss Ripple's fair notice defense and described how the company may prevail utilizing it.
In the meantime, the SEC has come up with a new strategy to deal with the DPP issue: the plaintiff is utilizing Judge Torres' recent judgment to claim that the protected documents, such as Hinman's notes and emails and the Estabrook notes, are irrelevant in the action.
Defendants sought dismissal of the case against them in the abovementioned order, which the judge rejected. She also rejected Garlinghouse and Larsen's argument that XRP sales were predominantly from outside the United States.
Joseph Grundfest, an ex-SEC officer, has stated that the SEC would have a difficult time detecting XRP transactions that are really under the SEC's jurisdiction. According to the court's reasoning, it may believe that XRP sales were not predominantly international.
DEliberative Procedural Privilege (DPP) IS AN OBSTACLES
The forthcoming deadlines for the SEC v. Ripple case have been provided by Connecticut-based securities litigation and regulatory compliance attorney James K. Filan.
However, despite the fact that the crucial DPP battle continues to be fought, according to the lawyer, the court's rulings on applications to strike the fair notice defense (denied) and dismiss proceedings against the individual defendants (denied) were landmarks.
XRP community member @stedas used attorney Filan's litigation agenda to build the graphic.
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