The Ripple vs. SEC case is back with new developments. Both parties are gearing up for another court hearing, which is scheduled to be conducted on February 20th.
Dubbed a hearing that marks the end of the discovery phase, this particular development has stirred the crypto community up a notch.
Also Read: Ripple vs SEC Lawsuit: A Settlement on the Cards?
With several documents and legal paraphernalia up for processing in court, the crypto community is anticipating a solid judgment that could finally put a stop to this two-year-long, intense legal battle.
XRP-SEC: End of Discovery Phase
The upcoming February 20th hearing can bring in new developments for the Ripple vs. SEC case. The phase will end its prolonged discovery stage, spearheading new procedural developments. Marked by a new “remedial” stage, this hearing can finally deliver concrete news concerning the case.
The discovery phase, in legal jargon, is dubbed a pretrial procedure. The phase allows each party to obtain the necessary evidence from each other through means of discovery.
This entails exploring methods such as interrogations, requests to produce documents, and admissions to obtain important data.
However, with the new court hearing nearing soon, the case is anticipated to deliver a solid judgment and update that could sway Ripple’s momentum considerably.
With the discovery phase ending, both parties will be expected to submit legal briefs by the end of March and April. This will further be followed by a court decision, which may impose certain remedies for Ripple to comply with.
Forges New Alliances Despite Lawsuit
Despite its ongoing legal warfare with the SEC, Ripple remains unfazed and is continuing to forge meaningful corporate partnerships.
Also Read. Ripple (XRP) Adds $1B to its Market Cap in Just 24 Hours
The firm has recently acquired Standard Custody Trust Company to expand its options in the US. The firm has also worked on establishing global partnerships, which may positively impact XRP’s price momentum.
Apart from that, Ripple has also initiated multiple corporate endeavors with HSBC, BBVA, and Zodia. The firm has also secured licenses to operate in major markets, including a major payments institution license from the MAS and a VASP registration from Ireland.