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Ripple lawsuit to reach a major turning point in 2024, with several important deadlines approaching
The Ripple vs. SEC lawsuit, which the cryptocurrency industry is watching with bated breath, will reach multiple critical stages throughout 2024. According to recent updates from crypto analyst Zach Humphries on YouTube, the timeline of this lawsuit could significantly influence future industry trends.
Key Milestones in the First Half of 2024
The Ripple case schedule for 2024 consists of several decisive periods. On February 12, a hearing will be held to discuss remedies, marking the start of a thorough legal examination of the SEC’s claims. Subsequently, on March 13, the SEC is expected to present details of the proposed remedies and officially state its position as a regulatory authority.
In April, the most crucial phase of the lawsuit will unfold. On April 12, Ripple will submit its counterarguments, providing an opportunity to challenge the SEC’s assertions. Immediately afterward, on April 29, the SEC plans to file its final rebuttal. These dates are likely to determine the outcome of the court battle.
Legal Issues Surrounding XRP Sales
The core of the lawsuit revolves around the nature of XRP sales to institutional investors. In a federal court ruling in July 2023, XRP itself was deemed not to be a security. However, the way Ripple sold XRP to institutional investors was considered to be an unregistered securities investment contract, resulting in a partial victory for the SEC.
This ruling provides different grounds for Ripple and the SEC, becoming a key point of debate in the upcoming court battles in 2024.
Possibility of a Final Decision in April–May 2024
Humphries points out that a final decision in this lawsuit could be made between late April and mid-May 2024. If everything proceeds as scheduled, this long-running court battle, which began in 2020, will finally come to an end.
He remains optimistic, noting that the July 2023 ruling was favorable to Ripple, and suggests that the final judgment in 2024 could result in an even greater victory for Ripple. The entire industry is closely monitoring the development of this final phase.