Expert search deadline in Ripple case has been pushed back by more than a month
US Magistrate Judge Sarah Netburn has proposed extending the search deadline to February 28 in the case between the US Securities and Exchange Commission and San Francisco-based blockchain company Ripple.
The extension was requested jointly by the parties for making additional deposits. Eight expert witnesses are yet to testify due to travel restrictions and personal issues.
The expert search phase was scheduled to end on January 19.
Last week, the SEC filed a letter of supplemental authority to strengthen its motion to defend Ripple’s conclusive fair notice defense, citing a recent ruling in another case. The defendant countered the agency’s claims, arguing that it was misusing a recent ruling.
Ripple’s general counsel Stuart Aldrotti recently urged the SEC to expedite the trial process, reiterating that the agency has created an uneven playing field for the cryptocurrency industry.
The SEC filed suit against Ripple in December 2020, arguing that the XRP cryptocurrency is a security. Ripple’s legal team is now competing to find out why bitcoin and ether are held to different standards.The expert search deadline has now been delayed four times. It was originally pushed back from October 12 to November 15. The expert search phase was extended to January 14 and January 19, before the deadline was eventually pushed back to February.
As reported by U.Today, Ripple CEO Brad Garlinghouse said that the lawsuit against his company was an attack on the entire crypto industry.