🇹🇷 The US Securities and Exchange Commission (SEC) has approved a request for an extension of time for a filing that could resolve the Ripple Labs case. According to court documents, the SEC's deadline for filing discovery materials filed by Ripple has been extended until March 22. The deadline for Ripple's opposition petition has been extended to April 22, and the new deadline for the SEC's response petition has been extended to May 6, 2024.

🔍 In 2020, the SEC accused Ripple Labs, along with its CEO Brad Garlinghouse and co-founder Chris Larsen, of offering $1.3 billion in unregistered securities through the XRP token. While the SEC argued that the token should be classified as a security, Ripple claimed that XRP was not a security and that the SEC did not give them fair notice of the classification.

🏛️ A significant development occurred in 2023, when Judge Analisa Torres partially ruled in favor of Ripple Labs and ruled that XRP was not a security in the context of programmatic sales on digital asset exchanges. However, the judge also ruled that XRP is considered a security when sold to institutional investors.

💬 What do you think about this development? Share your comments with us!#Ripple#SEC #XRP