SEC has 30 days to answer Ripple’s pending requests for admissions
In a recent response to the tweets, the founder of Cryptolaw John Deton hints at what could happen after Ripple scores a victory over the SEC in its fair notice defense. In positive developments over the weekend, Judge Analisa Torres denied the SEC’s motion to strike down Ripple’s “fair notice” defense.
Ripple CEO Brad Garlinghouse took to Twitter to describe the ruling as a “huge win,” saying, “If you weren’t paying attention then, you should be now. Huge win for Ripple today!”
An XRP user has asked the founder of Cryptolaw to shed some light on the Ripple-SEC settlement talks that were due to take place 14 days after the close of fact finding. Deaton replied: ”I don’t believe the mediation below took place. Now that the strike motion has been denied, the SEC has 30 days to respond to Ripple’s pending applications for admission. Additionally, we are waiting for Judge Netburn to rule on Estabrook’s emails and notes. ”
At the start of March, XRP-friendly attorney Jeremy Hogan shared a document outlining a few rules that the SEC and Ripple might follow, including a face-to-face or video conference to discuss the settlement within 14 days of the close of fact discovery.
Dubbed “the biggest decision” in the case by the Cryptolaw founder, Judge Sarah Netburn’s expected verdict on the SEC’s motion for reconsideration is still awaited by Ripple and the XRP community. XRP holders’ lawyer says when it might happen: “I’m surprised it hasn’t already fallen. I guess this week.”
The “Estabrook notes” were taken during a 2018 meeting between Elad Roisman and Brad Garlinghouse, which came into the limelight in January 2022, when Estabrook cleaned out his desk as he prepared to leave his position at the SEC.
Therefore, in addition to Judge Netburn’s rulings on the 63 emails and Estabrook’s memos eagerly awaited by the XRP community, the SEC must also respond to Ripple’s pending applications for admission within 30 days.
As U.Today previously reported, Judge Torres has denied the motion to dismiss the lawsuit against Ripple execs. Early on in the case, the two individual defendants (Brad Garlinghouse and Ripple Larsen) filed a motion to dismiss the cases against them as individuals on a variety of grounds. The judge has denied that motion.
