More than a year has passed since the SEC and Ripple case began, and many are now wondering if there will ever be a resolution. Several legal experts have offered potential dates for when the decision will be made. However, according to the majority of legal experts who have shared updates regarding the suit, Judge Analisa Torres will render her decision on or before March 31, 2023.
Former U.S. prosecutor James K. Filan continues to forecast the day Judge Torres will issue a final decision in the Ripple litigation. Additionally, on or about the end of March next year, Judge Torres will rule on both the petitions for summary judgement and the experts at the same time.
More than a year has passed since the SEC and Ripple case began, and many are now wondering if there will ever be a resolution. Several legal experts have offered potential dates for when the decision will be made.
“I am sticking to my prediction that District Judge Torres will decide on both the Expert Motions and the Summary Judgment Motions at the same time – on or before March 31, 2023,” he stated.
After sharing a revised schedule update for the summary judgement in Ripple v. SEC, Filan announced this yesterday.
If the SEC wins in the legal dispute, XRP (the native cryptocurrency of the Ripple Blockchain) will no longer be regarded as a currency in the US but rather as a security. This might then establish a legal standard that leads to the classification of other cryptos like it as securities.
Therefore, the lawsuit against Ripple is crucial for all parties involved in the cryptocurrency industry, including investors, developers of blockchain technology, and global lawmakers.
Attorney Hogan Announces Startling Information
The XRP community is hoping that Judge Torres rules in favour of Ripple if Filan keeps to his prediction. But partner at Hogan & Hogan law firm Jeremy Hogan thinks the continuing dispute between Ripple and the SEC is more complex than a win or a loss.
In his opinion, any “component” of the litigation can be settled at any time. Additionally, according to attorney Hogan, Judge Torres might issue a decision that would take some time for people to determine if Ripple won or lost.