In the Ripple and SEC case, trial judge Analisa Torres is expected to announce the final decision by the end of April. The latest reports from pro-XRP attorney John Deaton are as follows…
Latest situation in Ripple and SEC case
The legal battle between California-based technology company Ripple and the SEC has lasted more than 28 months. A few speculations have surfaced about the date of the final decision, with the most recent one coming from two pro-XRP lawyers who suggested that a decision could be made by the end of April.
Prominent lawyers John Deaton had predicted a few weeks ago that Judge Analisa Torres would be able to present a verdict in the case by the end of this month. Following the Daubert motions, he showed previous patterns in the US Judge’s decisions.
Deaton noted that unless a decision is made by May 6 at the latest, it would be inconsistent with the way Judge Torres has handled past cases. “So what I’m telling people is, we’re going to make the decision between March 6 and May 6,” Deaton concluded.
These dates are important.
There is only one week left until the end of April, there are fifteen days between now and May 6. If this prediction is correct, the crypto community can expect a decision on the case within the next two weeks. In particular, crypto phenom Ben Armstrong, commonly referred to as BitBoy, suggested that a decision could be made in June or July based on his convictions.
Ashley Prosper, an XRP community member, agrees with lawyers Deaton and Filing. In a recent tweet, Prosper emphasized that April 27 will be the 52nd day since Judge Torres ruled on the Daubert motions. Citing past cases, Prosper claimed that a decision on the summary judgment could come next week.
The weirdness of the Ripple and SEC case
However, Prosper and other XRP community members acknowledged that the Ripple-SEC case is unlike any other case Judge Torres has handled, and that the time it takes to reach a decision may differ from past cases. Earlier this month, attorney Deaton noted that he did not hold Judge Torres responsible for the delay in his decision and that a decision on the case would be one of the biggest decisions Torres has ever made:
When it comes to global trade and finance in modern history, consider what other decision was as big as this one. This is the most significant fraud-free SEC enforcement action since 1946.
Amid this anticipation, Deaton continued to express his optimism about a positive decision. Last week, Judge Torres stated that he is confident that XRP in secondary sales is not a security and that the token itself is not a security.
Most recently, Deaton argues that the SEC will lose the case, citing four decisions by different judges against the agency’s claims in past cases. Moreover, Gary Gensler’s failure to securely brand XRP and ETH as securities in his recent congressional surveillance hearing has prompted further speculation that the agency will lose.
DOGE and ETH can be seen as securities after XRP
cryptocoin.com In this article, we have included the statements of SEC Chairman Gary Gensler before the Financial Services Committee of the US House of Representatives. His statements indicate that after XRP, Dogecoin and Ethereum may also remain in the focus of securities discussions.
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