District Judge Analisa Torres has rejected the Securities and Exchange Commission’s (SEC) request to certify for an interlocutory appeal in its legal battle with cryptocurrency firm Ripple. The judge stated that the SEC did not provide enough evidence to show that the appeal would significantly advance the litigation’s ultimate termination. The trial has been scheduled for April 23, 2024, and both parties are expected to submit pretrial filings by the end of the year. Judge Torres has ordered representatives from Ripple and the SEC to meet in person to discuss a potential settlement before the final pretrial conference. The SEC had sought an appeal on the issue of programmatic sales and other distributions related to the sale of XRP, the cryptocurrency offered by Ripple. The SEC initially filed a lawsuit against Ripple and its executives in 2020, alleging that the firm raised $1.3 billion through the sale of XRP.
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