SEC Gets Small Win Against Ripple, Entertainment?

XRP vs SEC. (Pixabay)

JAKARTA – In the midst of Ripple's feud with the US Securities and Exchange Commission (SEC), Judge Sarah Netburn recently granted permission to the SEC to file an additional expert report. This earned the SEC its small win during the trial.

Initially, the findings from the experts were scheduled to be completed on January 14th. However, the deadline had to be pushed back several times. In addition, the court's release of the expert discovery schedule does not account for additional reports.

Last month, Ripple itself disputed a new report from securities and finance expert Dr. Albert Metz. The report was called “not allowed” on the grounds that the new version of the report did not bring anything new to court. Ripple said the SEC should not have made a final decision on the process.

The deadline for the discovery of new experts has finally been pushed back to May 13, 2022. Ripple's previous rebuttal gave Ripple a win and contributed to XRP's price.

Additionally, the SEC recently notified the court that it would file a new privilege statement in a last-ditch effort to prevent the production of emails related to the infamous Ethereum speech from William Hinman, former director of the SEC's Corporate Division.

This feud began in December 2020, when the SEC filed a lawsuit against Ripple Labs, CEO Brad Garlinghouse, and Ripple co-founder Chris Larsen over the sale of unregistered XRP crypto. Despite being caught in a case, the price of the XRP token is still firmly perched in the top 10 cryptocurrencies based on market capitalization.