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RIPPLE NEWS: SEC FILES APPLICATION TO DELAY XRP PROCESS

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Pressure on SEC is steadily increasing

The US Securities and Exchange Commission appears to be feeling increasing pressure as a result. A document filed a few hours ago shows that the regulator has submitted a request to extend all the deadlines.


Ripple has already approved the new schedule, leaving only the judge to give her approval. Given the overwhelming support from the crypto industry, Ripple CEO Brad Garlinghouse tweeted:


For those keeping count: 12 (!) amici letters were submitted. It is unprecedented (I am told) that this is happening at this stage. Each of them explains – in their own way – the irreparable damage the SEC will do to every facet of the US crypto economy if it gets its way.


Ripple News

Stuart Alderoty, General Counsel at Ripple added:


A dozen independent voices — corporations, developers, exchanges, public interest and trade associations, retail investors — have all filed the SEC v. Ripple lawsuit to state how dangerously wrong the SEC is. The SEC's response? We need more time, not to listen or engage, but to blindly march on.


This is the new schedule for Ripple vs. SEC

In the letter to the court, the SEC is asking the court to order the amendment of the time limit for filing briefs in reply to the parties' motions for summary judgment and for the sealing of summary judgment documents.


In light of the pending amicus briefs, the SEC is requesting that the date for the filing of the parties' sealed response briefs to the summary judgment motion be changed from November 15 to November 30.


The briefing to determine redactions in the response briefs is scheduled to be rescheduled from November 17 to December 2. Likewise, the deadline for submitting public, redacted response briefs is to be postponed from November 21 to December 5.


In addition, the deadline for submitting bulk requests to seal all proposed redactions for all Fast Track material is now 22 December. The objections to the collective applications are to be extended from December 22nd to January 9th.


Additionally, the SEC requires that all additional amicus letters be filed by November 11, 2022.​


​List of Ripple supporters

Ripple's list of supporters now includes Coinbase , I-Remit, Chamber of Digital Commerce, Crypto Council for Innovation, Valhil Capital, Blockchain Association, Spend The Bits, Tapjets, Investor Choice Advocates Network (ICAN), John Deaton on behalf of over 75,000 XRP investors, Cryptillian Payment Systems and Veri DAO LLC.

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