SEC’s Request For Postponing a Hearing On Ripple Case Was Satisfied
Earlier we wrote about the SEC’s request to extend a deadline on hearing of the Ripple case and how problematic it was for the company. Bad news for Ripple; the request of the Commission was satisfied by the court. They agreed on 60 days of postponement, so the hearing will take place on October 15th instead of August 31st.
Jeremy Hogan, a lawyer, is concerned about the possibility of not finishing the lawsuit this year with such postponements. The trial goes on since December, 2020. Ripple is accused of violating the securities laws by selling their XRP tokens. However, the official status of the token remains unclear.
Sarah Netburn, a magistrate, allowed SEC the access to Ripple’s documents about the interpretation of the cryptocurrencies but didn’t allow the access to the information about Ripple consulting lawyers about the legal status of XRP. They are also allowed to request an information about the company’s communication with foreign regulators.