Ripple’s legal tussle with the SEC should soon have its epilogue. In the meantime, the speculations continue. All in all, they give Ripple a win. A new element that has leaked seems to confirm the opinions of analysts in this direction.
Rejection of advice from some SEC experts
In recent weeks, a number of crypto industry players have announced that the SEC will lose its lawsuit against Ripple. Of course, that’s still speculation. Hypotheses that do not seem to convince some users, tempted to sell their XRP to protect themselves from the worst.
However, new data leaked Saturday April 29. They indicate that Ripple is headed straight for a victory against the SEC. For the regulator, it is rather a monumental debacle that seems to be looming. And for this time, this projection is more factual than speculative.
Indeed, you should know that given the stakes, justice has requested the opinion of several experts. Specialists, proposed by each party, with the mission of shedding light on the technical details of the case.
This approach, fairly standard in the United States in particular, leads to a summary judgment. It is a legal procedure that promotes the end of a dispute, without necessarily going through a trial.
As part of the latter, justice would have rendered, on March 6, a decision of 57 pages. This establishes which opinions of SEC and Ripple experts would be admitted and which would be excluded.
According to Ripple, the SEC expert opinion on “reasonable expectations” would have been excluded from the court record. Ditto for that of the specialist who tried to determine “the cause of the change in the price of XRP”.
This deal has strengthened the confidence of Ripple’s stakeholders who hope for the outcome of the case as soon as possible. Asked about the subject, a company official said “Ripple expects a decision on summary judgment in 2023, although the timing is ultimately up to the court.”
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