Expert Discovery Deadline Pushed Back A Month In Ripple Vs. SEC Case – Here’s What It Means

Parasshuram Shalgar
January 12, 2022
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Ripple XRP

The Ripple vs. SEC case will be pushed a month back due to the surging Omicron variant of the Coronavirus in the US.  This was revealed in a tweet by Eleanor Terrett who is a well-known journalist at Fox Business.

Eleanor tweeted, “The expert discovery deadline in the Ripple vs. SEC case will be pushed back a month due to the rapid spread of the Omicron variant. A source close to the case tells  @FoxBusiness a letter outlining this new motion will be filed in court as early as tomorrow.”

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SEC vs Ripple case

Before going into the details, it is imperative to know what exactly the case between Ripple and SEC is. The SEC had filed a case on December 22, 2020, against Ripple Labs and two of its executives. The SEC contends that Tipple traded $1.3 billion in their cryptocurrency XRP as security without registering it with the SEC. Ripple and other parties have since countered with claims that the SEC is biased in its assessment.

Most of the companies who have faced the wrath of the SEC often acceded to the demands and went on for a compromise. However, Ripple is not taking the matter lying down and has decided to take the case to its logical conclusion.

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Ripple’s accusations

Ripple accuses the SEC of bias and applies the definition of “security” to virtual currencies. If this is proven to be true, it would undercut the commission’s authority, not to mention blemish the credibility of their case.

Under SEC regulations, securities must be registered with the commission, and specific financial statements must be publicly disclosed. The objective is to negate fraud and protect the stakes of investors.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Parasshuram has been online in various capacities as a pro-blogger, top researcher, and now a senior editor at CoinGape.com. He has over 14 years of experience in the field of online publishing. Mr Shalgar can be reached at [email protected].
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.