Judge Torres to Decide on SEC's Motion to Compel Ripple by February 12th

According to CryptoPotato, the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple Labs continues to be a closely followed legal battle in the cryptocurrency industry. The SEC alleges that XRP is a security and that Ripple has conducted a massive security offering without registering it as such. Ripple has scored multiple wins in 2023, particularly when presiding judge Analisa Torres ruled that XRP sold on secondary exchanges does not constitute investment contracts. A new development is expected soon, as Judge Torres has to make a decision on a certain motion. In January, the SEC filed a motion against Ripple, demanding the company provide certain documents related to the lawsuit. They asked the court to compel Ripple to comply. Ripple responded by asking for an extension of the deadline. Judge Torres will have to decide on the order to compel by February 12th, according to lawyer Bill Morgan. He commented that Judge Torres needs to rule on the SEC's motion to compel quickly, as the current remedies phase timetable requires remedies related to discovery to be completed by February 12th. The trial between both parties is scheduled to start on April 23rd, 2024, and it remains to be seen how the matter will be resolved.