Cryptocurrency world has become a rapidly growing and gaining importance sector in recent years. However, legal issues and regulations in this sector have also been the subject of great debate. Many countries are trying to determine how to classify and regulate cryptocurrencies. In this context, it has become a matter of curiosity when the lawsuit between the SEC and Ripple (XRP), which has a significant impact on crypto money regulations in the USA, will be concluded.
Attorney Fred Rispoli, known for his expertise in crypto-related legal issues, has made a remarkable effort to satisfy this curiosity. guessing found. According to Rispoli, the highly anticipated summary decision could come sooner than expected.
Members of the Ripple (XRP) community have been waiting for judge Torres’ decision for a long time. Surprisingly, the judge’s summary verdict has not yet been released, despite the passage of time.
Attorney Rispoli has set a possible end date for this incompatibility, taking into account important statistical data linked to judge Torres’ previous decisions. By his calculations, Judge Torres historically has a summary judgment rate of 37% for defendants and 24% for plaintiffs.
Working late and procrastinating. This is interesting and probably something I should have checked a while ago……Stats on #JudgeTorres:
MSJ Grant Rate for Defendants: 37%
MSJ Grant Rate for Plaintiffs: 24%
MSJ Decision Speed (from filing to order): 249 days (median) but…— Fred Rispoli (@freddyriz) June 30, 2023
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Based on these figures, Rispoli discovered that it normally takes approximately 249 days for Judge Torres to decide on the first submission of summary judgments. The parties’ application for summary judgment was made on 17 September 2022. Furthermore, Rispoli found that the majority (60%) of Judge Torres’ summary judgments were delivered between 146 and 330 days. A decision on the Ripple (XRP) case could be expected on May 21, 2023, when this information was applied to the current case. However, Rispoli ignored this date due to the time elapsed since we entered the month of July.
Rispoli has updated its forecast and proposed a new probable decision date of August 10, 2023 for the XRP case. This new date is based on the longest time it took for Judge Torres to make a summary judgment; this is 330 days from September 17, 2022.
Recognizing the importance of this foresight, Rispoli also explained that August 10, 2023 is of great personal importance to him. He joked that having a decision in favor of Ripple on his birthday would be the best birthday present he could ever have. A decision to be made against Ripple at that time would lead to the opposite reaction.
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