The SEC and Ripple case may be delayed once again due to a new epidemic.
According to Fox Business correspondent Eleanor Terrett, the Ripple SEC lawsuit could be delayed for another month. As Terret reports, the case may be delayed due to delayed expert discovery. The reason for the postponement is the new Covid variant emerging in the USA and Europe.
In addition to the delay in the case, a source close to Fox Business pointed out that the new motion will be filled tomorrow.
Ripple was one of the few companies to seek regulatory disclosures about its operations, but the SEC blocked it. The company’s defense is based on the assumption that the commission did not notify the company of violating federal law.
The crypto company is accused of illegally selling $1.3 billion worth of XRP tokens, which the SEC considers unregistered securities.
Defendants also complain about the regulator’s failure to qualify other cryptocurrencies as securities. Due to these negativities experienced by Ripple, XRP has lost more than 60% in value since the ATH in April 2021.