Ripple has been granted an approval of its recent motion to the court
Defense attorney James K. Filan, who often posts updates on the Ripple-SEC case, including releasing new documents related to it, tweeted that Ripple scored another small victory by securing an extension of time for the petition filed with the court last week.
Ripple gets extra time to respond to SEC
Filan has tweeted that the fintech giant from San Francisco has got the green light from the court to gain an extension of time to respond to the SEC regarding redactions it had made to the minutes of the meeting with third parties.
The regulator had been authorized to redact four sets of documents (the agency’s notes on its previous meetings with third parties) related to the Ripple case.
James Filan notes that Ripple’s motion to gain extra time was approved in a text-only order. The regulator will produce the redacted documents to be assessed by Ripple’s team of lawyers by tomorrow—March 30.
Ripple’s legal team is expected to give its response on April 4.
Initially, the SEC filed a motion to gain a time extension to make the redactions to the documents mentioned above.
As previously reported by U.Today, CryptoLaw founder John Deaton does not expect the Ripple case to be settled in March. Another member of the Ripple community, attorney Jeremy Hogan, expected the settlement to occur in April. However, he recently tweeted that his expectations had shifted to September/October, and “this case is disappearing due to collateral estoppel”.
Goldman Sachs recognizes Ripple as “opportunity for payments”
The Investment Banking Division of the Goldman Sachs giant recently mentioned Ripple’s network as an opportunity for making payments, along with Circle (USDC stablecoin issuer) and the publicly-traded Coinbase exchange.
The US banking giant’s report highlighted RippleNet, a network built by Ripple Labs for banks, money transfer companies and other financial institutions and payment service providers. RippleNet has over 300 customers globally with multiple On-Demand Liquidity (ODL) corridors that enable seamless currency conversion using XRP during international remittances and payments.
