The end of the important lawsuit between Ripple and the SEC is approaching. An important date has recently been announced that XRP investors will definitely want to keep an eye on.
The importance of September 19 should not be underestimated
The dispute between the SEC and Ripple has taken a new turn. Both sides will submit open versions of memoranda in support of the motions on September 19. It makes the provisional amendments requested by the Parties at the meeting and conference. A negotiation process will then begin in which lawyers from Ripple and the SEC will discuss and edit the instructions.
Jeremy Hogan, a lawyer closely following the lawsuit, called the upcoming trial the endgame. According to the lawyer, the importance of September 19 should not be underestimated. On this day, both sides will expose their cards and present the information they have.
Divided opinion
The Ripple case is an example of how the SEC wants to act against the entire crypto world. The trial of former Coinbase product manager Ishan Wahi, accused of insider trading in what the SEC considers securities, is another good example.
SEC chairman Gary Gensler wants cryptos to be covered by the current law and that is not a good sign for crypto projects. The official recently said that the crypto market is quite compatible with securities regulations, and most cryptocurrencies now fall under the regulatory purview of the SEC. That means if Ripple loses the lawsuit, many other crypto projects will follow.