Attorney Predicts New Timeline For Ripple Vs SEC Summary Judgement

ripple sec XRP news lawsuit

Crypto News: Amidst much talk about the U.S. Securities and Exchange Commission’s (SEC) regulatory scrutiny in the crypto market, the wait for Ripple lawsuit Summary Judgement intensifies. In a latest development, the SEC filed a letter of Supplemental Authority to support its Motion for Summary Judgment. Meanwhile, based on Judge Analisa Torres’ track record after she delivered Daubert motions, it is speculated that the Ripple case judgement is not too far. However, it is always possible that the wait could drag on in this case from Judge Torres.

Also Read: 467 Million XRP Moved As SEC Files Fresh Motion

XRP Case Judgement Date

Attorney John Deaton, the attorney representing XRP token holders in the Ripple Vs SEC case, is guessing that the Summary Judgement could be given within 60 days from the date of the Daubert motion ruling. Hence, he predicted that the ruling could be given before May 6, 2023, although not guaranteed. Speaking about the overall regulatory clarity for crypto market, the attorney said there may not be regulatory clarity until late 2025 at the earliest, considering that we are in the election year.

“We are about five weeks since she delivered the Daubert ruling and the Summary Judgement could come out any time now. May 6 would put us at 60 day mark, before which there is a possibility of the judgement”

The final judgement in the long running Ripple case against the U.S. Securities and Exchange Commission could be significant to the future of crypto market. Deaton said it is possible that a split judgement is a possibility wherein the judge could rule that Ripple sold investment contracts earlier but now it is sufficiently decentralized and hence ongoing and future sales of XRP are not implicated by the securities laws. Another possible judgement could be that Judge Torres could decide there is a need for a jury to decide disputed facts.

Also Read: Kraken Starts Withdrawing All Staked Ethereum (ETH) Amid US SEC Pressure

The post Attorney Predicts New Timeline For Ripple Vs SEC Summary Judgement appeared first on CoinGape.

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