The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) over the status of XRP has entered a new phase.
According to a court order filed July 16, District Judge Analisa Torres transferred the case to Magistrate Judge Sarah Netburn for general pre-trial proceedings.
The ruling states that Judge Neteborn will consider all aspects of trial and discovery in the case, including scheduling, adverse motions and settlements.
The resolution also states that the parties should now agree on three mutually appropriate dates for mediation conferences if they believe that this will be fruitful.
Due to the busy court schedule, mediation conferences should be scheduled six to eight weeks in advance.
This does not mean that we will see a compromise in 6-8 weeks. It means that if they decide on a date, it will need to be scheduled 6-8 weeks in advance due to the busy schedule of the courts.
As Bitcoinsistemi.com reported, Judge Netburn filed an appeal after Judge Torres ruled last week that XRP is not a security when sold on cryptocurrency exchanges, but only when issued by Ripple to institutional investors.
This is a partial victory for Ripple, which argues that XRP is a currency, not a security regulated by the SEC.