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When will the XRP trial begin (XRP trial time)?

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When will the XRP trial begin? According to bitcoinist\’s report, Judge Sarah Net

When will the XRP trial begin (XRP trial time)?

When will the XRP trial begin? According to bitcoinist’s report, Judge Sarah Netburn approved Ripple Labs’ motion during the hearing held at around 3:00 am Beijing time on July 1.

The lawsuit accuses the company of raising funds through market manipulation and engaging in unauthorized investment activities by utilizing its platform for unregistered securities sales. According to the law, “if the defendant (i.e., the plaintiff) believes that they violated federal and state securities law antifraud and supervision requirements,” then they can consider XRP as an “illegal commodity.” Furthermore, there is also a reason stating, “the court should allow XRP to be used as an asset.” Therefore, Ripple Labs needs to take action to support or reject this decision regarding the above two points.

Ripple is one of the largest players in the cryptocurrency industry. In previous news, the U.S. SEC sent a letter to Ripple and its CEO Brad Garlinghouse seeking to freeze Ripple’s operations. It is reported that this letter was issued last November when Garlinghouse claimed that the company did not negotiate with Ripple regarding whether XRP is a security. (U.Today)

XRP trial time

According to Cointelegraph, during the trial earlier today, both sides requested the court to confirm the trial time. As reported earlier, it was scheduled to take place at around 3:50 am on June 18 Beijing time (7:01 Eastern Standard Time), and the defendant has filed a motion for a settlement agreement, agreeing to pay $10 million to resolve the legal issues.

Subsequently, the judge made a ruling on the proposed settlement, but it is currently unclear whether the hearing will take place. It is reported that XRP is associated with the blockchain project Ripple and the company XRPLabs as a partner.

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