Last week, key stakeholders in the US Securities and Exchange Commission (SEC) v. Ripple legal battle communicated their prospective trial availability to Judge Analisa Torres, who is overseeing the case.
The representatives from the securities regulatory body and Ripple’s executive team are aligning their schedules for the anticipated trial, set to unfold during the second quarter of 2024. With specific dates earmarked for April and May, the stage is being set for a pivotal showdown between the two parties.
Meanwhile, on August 27, John E. Deaton, legal expert, and Ripple advocate, offered truly interesting insights into the case’s background, particularly the SEC’s former executive Bill Hinman and the infamous Howey Test – a legal assessment used in the US to determine whether a transaction qualifies as a security under federal securities law.
Howey Memo did not suggest enforcement action against XRP
Notably, Deaton explained that on June 13, 2018, the SEC’s enforcement lawyers shared an XRP Howey Memo, applying the Howey Test to sales of XRP tokens.
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