In a recent YouTube update, crypto analyst Zach Humphries outlined the anticipated timeline for the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) in 2024.
Humphries believes court developments in Ripple vs. SEC this year could shape the industry’s fate. He noted that February 12 would be the date for “a deep dive” into the remedies briefing, setting the stage for the legal proceedings.
This date will be followed by the SEC’s remedies brief on March 13, where the regulatory body will address the situation and present its side of the case. Notably, as the analyst pointed out, one of the main items the SEC would contest with Ripple is its sales of XRP to institutional investors.
In July 2023, a U.S. federal court ruled that XRP is not a security, countering the regulator’s initial claims. Meanwhile, the court judged in favor of the SEC that Ripple’s XRP sales to institutions constituted an unregistered security investment contract.
Moving on, Humphries noted another pivotal moment in the case timeline, which comes on April 12, 2024. Per the disclosure, Ripple is scheduled to present its opposition on the date, providing a crucial opportunity to counter the SEC’s stance.
Meanwhile, on April 29, the SEC is expected to fire back with its replies. Humphries speculated that a full decision could be reached by late April or May 2024, potentially concluding the legal saga that began in 2020. The analyst remains optimistic, suggesting that the favorable outcome for Ripple in July 2023 was merely a prelude to a more significant victory in April 2024.
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