SEC vs. Ripple: Publicly Available Opening Brief Available Mar 26

According to the latest court briefing schedule, the SEC must file its remedy-related opening brief by Mar 22. The SEC will argue for a punitive penalty to deter breaches of Section 5 of the 1933 Securities Act.

In July 2023, Judge Analisa Torres ruled that Ripple breached Section 5 of the Securities Act for failing to register XRP as a security in sales to institutional investors.

However, the crypto market may have to wait until Mar 26 to access a redacted version of the remedy-related opening brief. On Tuesday, Mar 19, the SEC and Ripple filed a joint sealing proposal. According to the proposal, the SEC must file a public, redacted version of the brief by Mar 26. The SEC and Ripple must meet by Mar 25 to discuss redactions.

Ripple must file its remedy-related opposition brief by Apr 22. If the opposition brief contains confidential or highly confidential information, Ripple will file a public redacted version by Apr 24.

The SEC will file a public redacted version of its reply brief by May 8.