Ripple and SEC Enter Next Phase with Pivotal Filing and Countdown Begins

Ripple and SEC Enter Next Phase with Pivotal Filing and Countdown Begins

The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has been a focal point in the cryptocurrency industry, with implications extending far beyond the parties involved.

The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has been a focal point in the cryptocurrency industry, with implications extending far beyond the parties involved.

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Recently, the lawsuit took a major step forward when the resource briefing began with a pivotal presentation.

According James K. Filan, former federal prosecutor, the SEC has filed, under seal, its opening brief regarding appeals and supporting documents. These documents are not yet public, and redacted public versions will be submitted no later than Tuesday, March 26, 2024.

On March 19, Ripple and the SEC filed a joint sealing proposal to address sealing issues relevant to the report related to the lawsuit remedies.

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Ripple Ally vs. SEC: Newly Unsealed Documents Reveal Surprising Fact

With the SEC’s opening motion kicking off the solutions briefing, other crucial dates to keep in mind would be April 22, 2024, when Ripple’s opposition brief is anticipated, and May 6, when The response letter from the SEC is awaited.

Key Date Breakdown: What’s Next?

The breakdown of key dates presented in the most recent joint sealing proposal is as follows:

On March 25, 2024, both Ripple and the SEC are expected to meet and discuss to identify redactions requested by each party and third parties to the opening statement and accompanying materials.

On March 26, the SEC is expected to present a redacted public version of its opening brief, containing only the provisional redactions requested by the parties and third parties during the meeting and conference. The SEC will also file in the public docket any supporting evidence that has not been designated as confidential by the SEC, Ripple, or any third party pursuant to the protective order.

On April 22, 2024, Ripple would file a public, redacted version of its opposition brief, as well as supporting statements and exhibits, if and only if the materials did not cite or include any confidential material designated by the SEC. Ripple will also put into the public record any supporting evidence that is not classified as confidential by the protective order.

If Ripple’s opposition brief and supporting materials contain confidential information, the brief will be filed under seal on April 22. On April 23, the parties will meet and consult to determine the redactions requested by each party and any third party in the opposition brief and accompanying materials.

Related
Ripple Ally v SEC: New key date emerges as appeal progresses

On April 24, Ripple will file a publicly redacted version of the opposition brief.

The SEC is expected to file a sealed response brief on May 6. On May 7, both parties will meet and consult to determine each party’s and third-party requested edits to the opposition brief and accompanying materials.

On May 8, the SEC will file a redacted public version of the response brief and accompanying exhibits.

On May 13, the parties and third parties file motions by omnibus letter to seal all materials related to the solutions report. On May 20, parties and third parties can file letter briefs in opposition to omnibus letter motions to seal.

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