follow in Arab Bitcoin The merits of the Ripple case against the US Securities and Exchange Commission (SEC) from its inception in December 2020 until the moment, to keep the Arab user invested in the digital currency XRP or interested in its project informed of the path of the Ripple project and the recent case filed against him by the Securities and Exchange Commission.

After the first meeting between the two parties on February 22, some details emerged about the upcoming important dates and dates, which we learn about below.

Timeline of the Ripple and SEC case:

The management plan and scheduling order for the SEC case against Ripple has been formally approved by the court.

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The Civil Case Management Plan was introduced by both the Securities and Exchange Commission and Ripple.

The parties agreed on a management plan for how the case and trial would proceed.

According to the court order, the opportunity for new parties to enter the case has now passed, unless either party applies for a special court order.

Both parties have 30 days to file an appeal.

The court has set a July 2, 2021 deadline for the initial discovery phase, this date may change if Ripple and the SEC agree to a settlement.

The preliminary discovery phase refers to the production and submission of documents, whereby the evidence presented by both parties to the case is made public before the trial begins.

These documents are supposed to be submitted by March 31.

Investigations are scheduled for June 4, filings and admission applications are due to be completed by July 2, and the discovery of expert reports will be delivered by August 2.

The July 2 date is the important date for Ripple and the Securities and Exchange Commission, as they will meet again to discuss whether there is a possibility of a settlement.

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The way things are going, the lawsuit between Ripple and the SEC could drag on until the end of this year, and possibly longer.

Currently, the parties have informed the court via a joint letter that the settlement is not currently in their plans.

Modify the SEC file for Ripple:

Days before the initial hearing on February 22, the Securities and Exchange Commission filed an amended complaint against Ripple.

The focus of the SEC is on accusing Ripple and its chief executives, Brad Garlinghouse and Chris Larsen, of intentionally misleading investors regarding the cryptocurrency XRP.

This is what we discussed in a previous article entitled:

New details emerge in the Ripple case with the SEC after the first session

In response to the amended allegations, Ripple General Counsel Stuart Alderorty said that the complaint did not raise any new arguments and that there was only one legal question to be settled: whether or not XRP would be considered a security under US federal securities laws.

Appointment of a new head of the Securities and Exchange Commission:

Gary Gensler will be the new chair of the SEC.

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Which could be a huge game changer in the SEC lawsuit.

The next president-designate, Gary Gensler, is familiar with cryptocurrency and blockchain technology.

Gensler was chosen by President Joe Biden to become the next chairman of the Securities and Exchange Commission.

On March 2, Gensler will face the Senate committee in a virtual hearing.

Gensler has not yet been formally sworn in as the new chairman of the Securities and Exchange Commission, but is expected to do so after the hearing.

Many observers believe that the arrival of Gensler will affect the SEC case against Ripple.

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