Trial of SEC vs. Ripple Lawsuit will Begin on April 20, 2024

Eleanor Terrett, a reporter for Fox Business, shared a document on Twitter that disclosed an important SEC detail. The commission has informed the judges of the court appearance dates for the second quarter of 2024 that are permissible and restricted.

Notably, the legal representatives of Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have informed the presiding magistrate of their absence from April 1 to April 14, 2024. As a result, the trial for the legal dispute is now anticipated to begin by April 20, 2024.

Ripple Labs and the SEC have committed to initiating legal proceedings in the second quarter of 2024.

While the company has presented a flexible calendar and offered to participate in proceedings at any point within the timeframe, the SEC has enumerated specific participation requirements.

Formal letters addressed to Judge Analisa Torres of the US District Court For the Southern District of New York confirm that Ripple and the SEC intend to proceed with the appeals in the second quarter of 2024.

The court granted the SEC’s request for an interlocutory appeal in the ongoing case against Ripple on August 17, prompting this recent communication. This development followed the July 13 ruling, granting both parties partial victory in the legal dispute.

As reported, Ripple’s senior executives’ unavailability coincides with a significant event in the cryptocurrency industry; the anticipated Bitcoin Halving. Approximately on the exact dates, this event reduces the Bitcoin network’s mining rewards.