Ripple has been approved of its recent proposal in court
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- Ripple gets extra time to respond to SEC
- Goldman Sachs Recognizes Ripple as a “Payment Opportunity”
Defense attorney James K. Fillon, who frequently publishes updates on the Ripple-SEC case, including posting new documents related to it, have tweeted That’s another small victory for Ripple by getting a time extension on a motion filed in court last week.
Ripple gets extra time to respond to SEC
Fillon tweeted that the San Francisco fintech giant got the green light from the court to extend the time for the SEC to respond to improvements made in the minutes of the meeting with third parties.
The regulator was allowed to make some amendments to four sets of documents (the agency’s notes of its previous meetings with third parties) related to the Ripple case.
James Filan notes that Ripple’s proposal to gain additional time was approved in text-only order. The regulator will submit the revised documents to be evaluated by Ripple’s team of lawyers by tomorrow – March 30.
Ripple’s legal team is expected to respond on April 4.
#XRPCommunity #SECGov v #Wave #XRP Ripple’s request for additional time regarding the revised documents was granted in text order only. The SEC is directed to produce the revised documents for the defendant’s evaluation by March 30, 2022. The defendants’ response is due April 4, 2022.
– James K. Filan (@FilanLaw) 28 March 2022
Initially, the SEC filed a motion to obtain a time extension to amend the documents mentioned above.
As previously reported by U.Today, CryptoLaw founder John Deaton does not expect the Ripple case to be settled in March. Another Ripple community member, lawyer Jeremy Hogan, expected the settlement to happen in April. However, he recently tweeted that his hopes had shifted to September/October, and “this case has been cleared due to collateral withholding.”
Goldman Sachs Recognizes Ripple as a “Payment Opportunity”
The investment banking division of the Goldman Sachs giant recently cited Circle (the issuer of the USDC stablecoin) and the publicly traded Coinbase exchange, as well as Ripple’s network, as opportunities for payments.
The US banking giant’s report highlighted RippleNet – a network built by Ripple Labs for banks, remittance companies and other financial institutions and payment service providers. RippleNet has over 300 customers around the world with multiple on-demand liquidity (ODL) corridors that allow seamless conversion of currencies using XRP when making remittances and international payments.