March 26 has significant importance for Ripple Labs in its legal dispute with the US Securities and Exchange Commission (SEC).
The SEC has submitted its first brief on the remedies it is seeking, which is presently confidential. This document provides an overview of the sanctions and legal measures that are being sought against Ripple, marking a key milestone in an ongoing legal dispute.
The court has issued an order for Ripple to disclose its financial particulars and sales contracts, which the SEC contends are crucial for deciding the appropriate course of action in the case’s remedy phase.
A comprehensive schedule has been set for the next stages of the litigation, which includes specific dates for submitting documents for all parties involved.
Nevertheless, the ultimate outcome is still undetermined, since there is a possibility of the SEC requesting delays or extensions. This is a crucial point for Ripple, highlighting the legal intricacies and substantial advancements in this well recognized case.
Four weeks ago, Ripple (XRP) has released around 400 million XRP tokens, worth around $217 million.
