In the escalating legal clash between Ripple Labs and the United States Securities and Exchange Commission (SEC), Magistrate Judge Sarah Netburn has introduced firm deadlines for the regulatory body to counter Ripple's recent legal maneuvers.

Magistrate Judge Netburn's latest move came on April 25, as she issued a fresh schedule order, injecting a sense of urgency into the protracted Ripple-SEC legal battle. Renowned legal expert James K. Filan shared the details of the schedule order on X (formerly Twitter). The order mandates the SEC to file a rebuttal to Ripple's Motion to Strike by April 29, 2024. Subsequently, Ripple is obliged to provide a response within three business days.

This order holds paramount importance in Ripple's challenge against the SEC, potentially addressing the regulator's recent motion to bolster remedies and finalize judgment. Ripple had earlier filed a motion on April 22 to strike down the SEC's newly introduced expert materials, alleging a violation of discovery rules due to the regulator's delayed submission.

The cryptocurrency payment firm contests the $2 billion penalty imposed by the SEC, arguing that the demands are disproportionate. Ripple staunchly maintains that XRP, its native digital asset, does not qualify as a security, thus challenging the SEC's jurisdiction over its operations.

The Ripple-SEC case remains a focal point in the crypto and financial industries, with its outcome poised to influence regulatory dynamics and market sentiments. Despite recent developments, including Magistrate Judge Netburn's nomination as District Judge in the Southern District of New York, a final ruling on Ripple's penalty is pending. Magistrate Judge Netburn, known for her pro-crypto stance, continues to navigate the complexities of the case, considering both parties' arguments diligently.

The wider crypto community remains attuned to the legal proceedings, with Ripple garnering support from segments of the XRP community while criticizing the SEC's regulatory approach in the crypto domain. As the legal battle unfolds, stakeholders eagerly await further developments, mindful of the potential ramifications for Ripple, the broader crypto industry, and regulatory frameworks governing digital assets.