According to Fox Business journalist Eleanor Terrett, Ripple’s case against the SEC could be pushed back another month.
As Terret reports, the case may receive a different response due to the delay in specialist detection deadlines. The resistance associated with the “new” pandemic (new variant) has emerged in the US and Europe.
In addition to the delay in the case, a source close to Fox Business said that the new petition will go to court tomorrow.
Ripple was one of the few companies seeking regulatory clarity over their operations, but the SEC prevented this. The company’s defense was built on the premise that the commission failed to notify the company of its violation of federal law.
The crypto company is accused of illegally selling $1.3 billion worth of XRP tokens, which the SEC considers unregistered securities. The company’s CEOs and co-founders, Brad Garlinghouse and Chris Larsen, act as defendants in the case.
The defendants have also claimed that the regulator allowed other cryptocurrencies to be free by not marking them as securities. Due to the increased risk surrounding Ripple, Ripple’s related cryptocurrency, XRP, has lost more than 60% since ATH in April 2021.
The case became a trial “Government v. Exemplary “cryptocurrency”, where a lack of clarity, as Ripple’s lawyers have suggested, is one of the key issues that could turn out to be critical for the industry’s interaction with regulatory agencies. government regulators like the SEC.
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