The Securities and Exchange Commission sought certification for an interlocutory appeal in its dispute with #cryptocurrency company Ripple, but District Judge Analisa Torres denied the request, stating that the agency had failed to show that the appeal would "materially advance the ultimate termination of the litigation."
On April 23, 2024, a trial date is then scheduled. By the end of the year, Torres said, #Ripple and the SEC should present their pretrial filings.
"Counsellors for both parties, together with the parties themselves, shall meet in person for at least one hour to discuss settlement of this matter prior to the final pretrial conference," Torres stated.
The SEC requested certification for interlocutory relief in a motion it submitted to the Southern District of New York U.S. District Court in August.
At the time, SEC attorneys argued that the Ripple case's outcome might have a "substantial impact" on other cases still in court, such as those involving the regulatory body and prominent cryptocurrency trading sites #Binance and Coinbase.
The SEC sought to overturn the decision's portion relating to programmatic sales and "other distributions," which covered $XRP offers and sales in return for products and services.