Amid the ongoing legal battle between Ripple and the SEC, the US regulator has recently announced an upcoming closed-door meeting with the crypto firm, which is expected to take place at the end of the month.
The United States Securities and Exchange Commission’s (SEC) announcement started off with the time and date of the upcoming closed-door meeting which is expected to take place on Thursday, November 30, 2023, at approximately 2:15 p.m.
According to the notice, the meeting will be held via remote means or at the commission’s headquarters in Washington, DC. “The meeting will be held via remote means and/or at the Commission’s headquarters, 100 F Street, NE, Washington, DC 20549,” the announcement stated.
The upcoming meeting with Ripple will see several subject matters being discussed and handled. These include institution and settlement of injunctive actions, institution and settlement of administrative proceedings, resolution of litigation claims, matters related to litigation, and other matters relating to examinations and enforcement proceedings.
Furthermore, several notable positions from the US regulator are expected to attend the upcoming event, including top SEC commissioners, Counsel to the Commissioners, the Secretary to the Commission, recording secretaries, and certain staff members.
The SEC’s legal battle with Ripple has been going on for over two years now. Although the SEC has not formally stated its desire to resolve the drawn-out battle with Ripple, there is a possibility of a change in the upcoming meeting.
The meeting has caused quite a stir among the Ripple community, as some enthusiasts are expecting a potential settlement from the event. One of the crypto enthusiasts who have expressed optimism about the event is XRP influencer Amelie.
The influencer recently took to her X (formerly Twitter) handle to share her optimism about the upcoming meeting. She highlighted that the SEC has issued another closed meeting, and hopefully, a settlement is imminent.
“Another closed meeting from the SEC on November 30, 2023. Hopefully there is a settlement incoming soon.”
Pro-XRP Lawyer John E. Deaton has recently revealed the next important dates of the final case between Ripple and the SEC. Deaton revealed the dates in a live video shared on his official YouTube Channel known as Crypto Law TV.
The final dates include February 12, 2024, in which both parties are expected to conclude all remedies-related discovery. The SEC, the complainant, is authorized to submit its brief concerning the remedies by March 13, 2024.
Meanwhile, Ripple, the defendant, would have until April 12, 2024, to submit its opposition to the SEC’s brief. Lastly, the plaintiff must submit its response to the defendant’s opposition by April 29, 2024.
As the legal battle between Ripple and the SEC continues, the crypto and financial communities are eagerly awaiting the outcome of the upcoming closed-door meeting. The meeting, set to take place at the end of the month, could potentially shed light on the future of Ripple and its native cryptocurrency XRP.
The ongoing legal feud has undoubtedly had a significant impact on the cryptocurrency market, particularly on the price and trading volumes of XRP. With the potential for a settlement or further legal action, the outcome of the meeting will likely have a substantial effect on the crypto industry as a whole.
In the meantime, investors and enthusiasts are closely following the developments surrounding the Ripple-SEC lawsuit, with many hoping for a resolution that provides clarity and certainty for the future of Ripple and XRP. The next few months leading up to the final dates of the case will undoubtedly be crucial, and the outcome of the upcoming meeting could potentially set the stage for a significant turning point in this ongoing saga.
