Ripple's position is strengthened in the case with SEC
Judge Analisa Torres set a deadline for Ripple and the SEC to submit a joint briefing schedule on the judicial proceedings related to the lawsuit against Ripple, stressing the importance of complying with due process.
This move comes at a time when the authority is demanding a settlement worth $770 million.
This announcement coincides with Ripple's main Swell conference held in Dubai from November 8 to 9, where the use of the digital currency XRP by major financial institutions such as the largest payment processor in Africa and HSBC Bank was announced.
This news strengthens Ripple's market position and creates a positive spirit among XRP traders and investors, indicating a rise in interest and confidence in using the digital currency on a global level.
If an agreement is not reached between the two parties (Ripple and the SEC) by November 9, the SDNY District Court will determine the timeline for moving forward with the case.
These events highlight vital legal developments and regulatory progress in the cryptocurrency space, and reflect the significant role that regulation and legislation can play in shaping the future of this growing sector.
