New Development in Ripple-SEC Case!

There has been a new development in the legal war that has been going on for months between Ripple and the SEC. Court Judge Netburn approved the extension of the investigation period.

There was a new development in the Ripple-SEC case. Court judge Sarah Netburn approved the request of the US Securities and Exchange Commission (SEC) to extend the investigation period of many years-old documents about Bitcoin, Ethereum and XRP. Netburn gave an additional 2 months to the SEC.

Ripple Didn't Make a Request

Lawyer James Filan, who has been a close follower of the case since the first days of the case and informs his followers through his social media accounts, announced with documents that the judge accepted the SEC's request. According to the court document, the deadline for the SEC to submit thousands of documents on Bitcoin, Ethereum and XRP demanded by Ripple will be August 31st. Ripple, on the other hand, opposed the extension decision and wanted the SEC to submit the documents by the last day, June 18.

“Over 20 Thousand Documents Presented”

The SEC, on the other hand, claimed that they have submitted more than 20,000 documents to Ripple since April. As it is known, Ripple argues that XRP is not a security like Bitcoin and Ethereum and it shows that the company has not been warned for years as evidence of this issue. For this reason, Ripple was requesting the SEC's internal correspondence on Bitcoin, Ethereum and XRP.

Jeremy Hogan Says The Case Will Prolong

Another Ripple and XRP supporter Jeremy Hogan, who is closely following the case, said that this decision of the court means that it will extend the case for at least 60 more days. Hogan said the following on the subject: “Discovery and research time has been extended by another 60 days. This was actually not unexpected, but the whole case has now been extended by another 60 days. So the verdict hearing could be like December/January. If there is no agreement between the parties, the case will be extended to the beginning of 2022. The SEC does not have a document or recommendation that says 'do not trade with XRP'. Such a document would not exist without individual issues.”