Executives of Ripple Labs and the US Securities and Exchange Commission have agreed to prolong the timeline of their lawsuit and postpone court proceedings until the end of 2022, implying that their legal standoff would likely last well into next year.
Both parties jointly requested the extension in a letter to Judge Sarah Netburn, who has been presiding over the case. Judge Netburn granted approval of the revised schedule.
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How Case Vs. Ripple Began
Between 2013 and 2020, Ripple Labs raised $1.3 billion in capital through the sale of XRP tokens.
When the SEC filed a complaint against Ripple near the end of 2020, there were no indications from the SEC that Ripple was under scrutiny.
And Ripple was already trading on over 200 exchanges at the time.
The SEC, on the other hand, concluded that Christian Larsen, Ripple’s co-founder, and Bradley Garlinghouse, Ripple’s current CEO, illegally raised cash because XRP was not a regi ..
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