In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), a Federal Judge has announced that a jury trial is scheduled for the second quarter of 2024. This follows a partial summary judgment that acknowledged Ripple’s institutional sales of XRP as an unregistered securities offering but excluded programmatic sales. The trial will focus on determining the regulatory status of XRP and its potential impact on the cryptocurrency sector. Both Ripple and the SEC must provide blackout dates for the trial by August 23rd. Legal expert Jeremy Hogan predicts the trial may start in May 2024, with potential appeals extending the timeline. The outcome of the trial could have significant consequences for the cryptocurrency industry and may shape regulatory frameworks. XRP’s price has been reflecting Bitcoin’s trajectory, experiencing a slight increase over the past 24 hours. It is advised that investing in cryptocurrencies carries risks and readers should seek expert advice before making any investments.
AI Sentiment: Neutral
