Amidst the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple, a pro-XRP legal expert, James K. Filan, has revealed an important date that will determine the next phase of the case. According to Filan, the next phase will be determined on November 9, 2023. In a letter sent to Judge Analisa Torres, the judge presiding over the case, the SEC and Ripple are required to meet on this date to discuss the potential briefing schedule regarding the pending issue in the case. The focus of the meeting will be on finding appropriate remedies for Ripple’s alleged violations of Section 5 in relation to its institutional sales of XRP. This meeting holds significant importance as it could establish a precedent for how cryptocurrencies are handled in the United States. The outcome of the meeting may have a significant impact on Ripple, XRP, and the cryptocurrency industry as a whole. While the community expects a fierce battle between the two parties regarding the penalty Ripple will have to pay, journalist Eleanor Terrett suggests that the company may be able to minimize the penalty, although the SEC is likely to demand a substantial amount. So far, Ripple has been seen as the dominant party in the case, with the SEC facing setbacks such as the dismissal of its case against Ripple’s CEO and founder. John E. Deaton, a lawyer, has expressed his disbelief in the settlement between the SEC and Ripple, stating that there have been no serious conversations regarding a settlement between the two parties.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Eleanor Terrett, Analisa Torres, Chris Larsen, James Filan, Brad Garlinghouse
Companies	Ripple, X (formerly Twitter), SEC vs. Ripple, Judge Analisa Torres, United States Securities and Exchange Commission (SEC), Fox Business, Ripple Labs
Currencies	XRP
Securities	None