SEC Lawsuit Against Ripple Labs to Proceed to Jury Trial in 2024

SEC to appeal aspects of XRP ruling, jury trial set for Q2 2024 RippleLabs XRP SecuritiesandExchangeCommission

- The Securities and Exchange Commission’s lawsuit against Ripple Labs is set to advance to a jury trial in the second quarter of 2024 based on a Wednesday filing by the judge overseeing the case.

The prosecutors and defense lawyers on the case have until Aug. 23 to submit blackout dates for the trial, which is expected to start between April 1 and June 30, 2024. “Specifically, the SEC seeks to certify the Court’s holding that Defendants’ “Programmatic” offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s “Other Distributions” in exchange for labor and services did not involve the offer or sale of securities under SEC v. W.J. Howey Co., 328 U.S. 293 ,” the SEC said.

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