- US judge Annalisa Torres referred Ripple vs. SEC Case to Judge Sarah Knitburn.
- Last week’s verdict was that XRP is not a security.
- ripple vs. The SEC case continues but Judge Knitburn suggested that both Ripple and the SEC could agree on dates for a potential settlement conference if they think it would be “productive” at this point.
The latest Ripple news is that US Judge Sarah Netburn has ordered both Ripple and the US Securities and Exchange Commission (SEC) to agree on possible dates for a settlement conference.
The order came shortly after Judge Annalisa Torres of the US District Court for the Southern District of New York referred the next phase of Ripple v. Ripple. Securities and Exchange Commission court battle for Judge Knitburn.
According to a court document filed on July 17, Judge Knitbourn, who will now preside over the preliminary public trial, has recommended that the two parties reach this agreement 6-8 weeks in advance, citing the busy schedule of the court. As stated in the judge’s order, the parties must agree to three mutually convenient dates.
Will the SEC and Ripple want to settle down?
The pre-trial phase includes aspects of the caseScheduling, discovery and unobtrusive pre-trial movements. It is also likely the point at which both sides may want to settle. While the expectation is that the SEC may want to settle for Ripple, the coming days may indicate whether either side considers this a path to follow.
Fox Business journalist Eleanor Territt shared the view on Twitter:
To be clear: Justice Netburn is suggesting that the parties agree on some possible dates for a settlement meeting, *if* they “think it will be productive at this time.” ”
This does not mean that we will see a settlement within 6-8 weeks. This means that if they decide to make a date, it will be… https://t.co/3bxqCGLyPr
– Eleanor Terrett July 17, 2023
Last week, Judge Torres effectively declared XRP not a security and sparked a massive rally for the token and the broader crypto market.
Although the remaining outcome of the case is anyone’s guess, the crypto industry believes that Ripple’s partial victory provided a watershed moment that could translate into much-needed regulatory clarity.