The U.S. Securities and Exchange Commission (SEC) is receiving more time to fight an order to hand over certain documents in its lawsuit against Ripple, potentially delaying the outcome of the case.

In a new order, federal judge Sarah Netburn says the SEC has until February 17th to file a motion for reconsideration on a previous order directing the regulator to hand over drafts and emails relating to a 2018 speech from William Hinman, the former director of the SEC’s Division of Corporate Finance.

Ripple’s legal team will have until February 25th to file a response.

The SEC alleges that XRP was an unregistered security upon its launch and that it remains a security to this day.

Hinman, however, does not view all crypto assets as securities. He said in that 2018 speech that he doesn’t think Bitcoin (BTC) or Ethereum (ETH) are securities due to the decentralized structures of their networks.

Attorney and crypto legal expert Jeremy Hogan says in a new tweet that there is “no silver lining” to the ruling for Ripple.

“Now discovery won’t conclude until March at the earliest.”

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Adrian Grosu

The post SEC Awarded More Time To Fight Order To Hand Over Sensitive Documents in XRP Lawsuit appeared first on The Daily Hodl.