Ripple XRP Braces for Pair of Key Legal Battles This Month

  • Ripple (XRP) is preparing for two significant legal challenges in April 2024: a motion hearing for the Zakinov vs. Ripple Labs case and a major trial with the US Securities and Exchange Commission (SEC). The Zakinov case begins April 15th, and the SEC trial is set for April 23rd.
  • The Zakinov vs. Ripple Labs case, initiated in 2018, involves allegations of false information and the sale of XRP as an unregistered security. A public motion hearing is scheduled for January 11th with Judge Phyllis J. Hamilton presiding.
  • In the ongoing dispute with the SEC, which started in December 2020, Ripple faces accusations of selling XRP as an unregistered security, though a judge ruled against the SEC’s claims related to secondary sales in July 2023. Deadlines for filing briefs for remedies are March 13th for the SEC and April 12th for Ripple.

Ripple (XRP), a prominent player in the crypto space, is bracing for a significant month as it prepares for two pivotal legal battles. With the crypto community watching, these trials are not only critical for Ripple but could also set precedents affecting the wider digital currency market. Let’s dive into the details of these upcoming court cases that are stirring up attention.

Ripple’s Legal Showdowns on the Horizon

  • The Zakinov Vs. Ripple Labs case is scheduled for a motion hearing on January 11th before Judge Phyllis J. Hamilton, with public access via a Zoom seminar.
  • The SEC’s deadline to file their brief for remedies is set for March 13th, while Ripple’s deadline is April 12th, leading up to the grand trial on April 23rd, 2024.

Source: Crypto News

The Zakinov Vs. Ripple Labs Case

  • Originated in 2018, this lawsuit involves XRP holders accusing Ripple Labs of providing false information and selling XRP as an unregistered security.
  • Vladi Zakinov, the case’s namesake, is among the claimants seeking redress.
  • After multiple delays, the case is predicted to commence on April 15th, 2024.

Ripple’s SEC Legal Battle

  • Ripple’s clash with the SEC is set for a crucial trial on April 23rd, 2024, just over a week after the Zakinov case begins.
  • The SEC initially brought the lawsuit against Ripple in December 2020, claiming XRP was sold as an unregistered security.
  • A significant development occurred in July 2023 when a judge ruled against the SEC’s claims relating to the secondary sale of XRP.

These upcoming trials are not just pivotal for Ripple and its investors but also have the potential to influence the regulatory landscape for crypto assets in the United States and beyond. With the outcomes hanging in the balance, April 2024 will undoubtedly be a landmark month for Ripple and the crypto industry as a whole.

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