- U.S. Judge Analisa Torres has referred the Ripple v. SEC case to Judge Sarah Netburn.
- Last week’s ruling ruled that XRP is not a security.
- As the Ripple v. SEC case continues, Judge Netburn suggests that both Ripple and the SEC could agree on a date for a settlement meeting if they deem it “productive” at this stage. bottom.
In the latest news for Ripple, US Magistrate Sarah Netburn has ordered both Ripple and the US Securities and Exchange Commission (SEC) to agree on a possible date for a settlement meeting.
The order comes shortly after Judge Analisa Torres of the United States District Court for the Southern District of New York referred the next phase of the Ripple v. SEC legal battle to Judge Netburn.
Judge Netburn, who currently presides over the general preliminary hearing, recommended that the parties reach an agreement six to eight weeks in advance, given the court’s busy schedule, according to court documents filed on July 17. . As stated in the judge’s order, the parties must agree on his three mutually convenient dates.
Do the SEC and Ripple Want to Settle?
The pre-trial phase includes aspects of the case relating to “”.Scheduling, Discovery and Nondisciplinary Pretrial MotionsIt is probably also the stage where the parties want a settlement. It is speculated that the SEC would like to settle with Ripple, but the next few days could reveal whether either side sees this as the route to take. be.
Fox Business journalist Eleanor Tellett shared the outlook on Twitter:
🚨Just to be clear, Judge Netburn said that *if* “if we believe it would be productive at this point,” the two sides would agree on some possible dates for a settlement conference. I am proposing.
This does not mean that we will see a settlement within six to eight weeks. So if they decided on a date, it would be… https://t.co/3bxqCGLyPr
— Eleanor Terrett (@EleanorTerrett) July 17, 2023
Last week, Judge Torres effectively declared XRP not a security, sparking a massive rally in the token and the broader cryptocurrency market.
While the outcome of the rest of the lawsuit is anyone’s guess, the crypto industry believes Ripple’s partial victory provided a tipping point that could lead to much-needed regulatory clarity. there is