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The Securities and Exchange Commission (SEC) has been given additional time to submit remedies-related discovery documents in the legal proceedings against Ripple. Judge Analisa Torres approved the SEC’s request for an extension, pushing the deadline for the submission, crucial for Ripple Labs’ case resolution, to March 22.

 

 

 

As of March 1, court documents confirm the SEC’s granted extension, allowing them to file their opening brief by the new deadline. In response, Ripple’s deadline for the opposition brief has been extended to April 22, and the SEC now has until May 6, 2024, to file a reply.

 

 

 

The remedies-related briefing outlines potential legal actions and remedies associated with the ongoing litigation. The SEC initiated its case against Ripple Labs in December 2020, alleging a $1.3 billion unregistered securities offering through XRP token sales. The regulatory dispute hinges on the SEC’s classification of XRP as a security, subject to strict regulatory measures, while Ripple contends that XRP does not fall under this category and argues a lack of fair notice from the SEC.

 

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