Amidst a day of upward movement in Bitcoin (BTC) and altcoins, a significant development unfolds in the ongoing legal feud between Ripple and the U.S. Securities and Exchange Commission (SEC).
The SEC has petitioned Judge Analisa Torres, overseeing the case, for an extension of deadlines concerning settlement briefings. As per former U.S. federal prosecutor James K. Filan's recent update, the SEC requested the following changes:
The SEC cited the need for additional time to prepare the summaries promptly following the resolution of a recent discovery dispute. The request, made in good faith, aims to ensure diligence in completing discovery and briefing regarding remedies.
Following the SEC's request, the XRP price exhibited notable activity, surging to $0.59 with a 5.6% increase in the last 24 hours. While the court's response to the SEC's extension request remains pending, any acceptance could potentially impact the timeline of the Ripple case.
XRP commenced the day at $0.58, maintaining a horizontal trajectory amid the unfolding developments in the SEC-Ripple legal battle.
The SEC's move to request a deadline extension signifies a pivotal juncture in the Ripple legal saga. As XRP's price reacts positively to the latest developments, market participants await further updates regarding the case's timeline and potential implications on Ripple and the broader cryptocurrency landscape.
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