Crypto News: Amid much talk about the US Securities and Exchange Commission (SEC) regulatory scrutiny of the crypto market, the wait for the Ripple lawsuit, Summary Judgment, is intensifying. In a latest development, the SEC filed a letter of additional authority in support of its Motion for Summary Judgment. Meanwhile, based on Judge Analisa Torres’ track record after she filed Daubert motions, it is speculated that the Ripple ruling is not too far along. However, it is always possible that the wait in this case will drag on from Judge Torres.
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XRP case review date
Lawyer John Deaton, the attorney representing XRP token holders in the Ripple Vs SEC case, suspects that the summary judgment could be rendered within 60 days of the date of the Daubert motion. Therefore, he predicted that the ruling could be delivered before May 6, 2023, although not guaranteed. Speaking about the overall regulatory clarity for the crypto market, the lawyer said that there will be no regulatory clarity until the end of 2025 at the earliest, as we are in the election year.
“We’ve been about five weeks since she delivered the Daubert ruling and the summary judgment is due any minute now. May 6th would bring us to 60 days before there is any possibility of judgment”
The final verdict in the long-running Ripple case against the US Securities and Exchange Commission could be important for the future of the crypto market. Deaton said it is possible that a split judgment is one possibility in which the judge could rule that Ripple has previously sold investment contracts, but is now sufficiently decentralized and therefore the ongoing and future sale of XRP is not implied by the securities laws. Another possible ruling could be that Judge Torres could rule that a jury is needed to decide disputed facts.
Also Read: Kraken Begins Withdrawing All Stakeholder Ethereum (ETH) Under US SEC Pressure
Anvesh reports major developments around crypto adoption and trading opportunities. He has been associated with the industry since 2016 and is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Contact him at [email protected]
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This post Ripple SEC Summary Judgment: Lawyer Predicts Timeline
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