XRP Lawsuit Summary Judgment Could Take Longer Than Usual – Crypto News – Crypto News
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XRP Lawsuit Summary Judgment Could Take Longer Than Usual – Crypto News

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Crypto Market News: The wait for Summary Judgment in the XRP lawsuit continues despite the positive developments in favor of Ripple in recent times. The US Securities and Exchange Commission’s (SEC) argument fell short as Judge Analisa Torres, who is overseeing the lawsuit, denied the agency’s request to conceal the Hinman documents. Meanwhile, in March 2023, the judge delivered a ruling on either parties’ motions to preclude expert witness testimony. This was seen as a win for the Ripple XRP community as the ruling meant a neutral result for both Ripple and the SEC.

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In a latest development, Ripple chief executive officer Brad Garlinghouse predicted that the XRP Vs SEC lawsuit could be concluded in a matter of a few weeks. CoinGape reported that the CEO hinted at a resolution over the Hinman documents could lead to a judgment delivered in the coming weeks.

XRP Attorney: Good Luck On Summary Judgment Prediction

John Deaton, the lawyer who represents the more than 70,000 XRP token holders in the SEC lawsuit, indicated that it could take longer than expected for the Summary Judgment. On behalf of myself, I simply say to Brad Garlinghouse, good luck with that prediction, he said in a tweet in response to news of the prediction. Irrespective of the timeline of the lawsuit, the judgment could have life changing impact on the crypto market, as the result could be used as a reference for other crypto lawsuits in the future.

The SEC had been targeting several crypto businesses over non-compliance with regulations, since the beginning of 2023. It is also expected that the agency would continue its ‘enforcement by action’ stance when it comes to crypto market compliance.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at anvesh@coingape.com.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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