Renowned attorney John Deaton utilizes Judge Torres’ previous cases to predict a revised end date for the XRP lawsuit and sheds light on the reason for the extensive duration of the case.
As the crypto community awaits the SEC vs. Ripple case summary judgment, lawyer and ardent XRP advocate John Deaton has embarked on fresh speculation regarding the possible timing of the ruling.
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During a recent CryptoLaw webcast, Deaton proposed that Judge Analisa Torres may deliver her judgment on September 6, 2023. Deaton predicts a similar schedule for the lawsuit based on Judge Torres’ prior history of issuing summary judgments a few months after her findings on Daubert/Expert petitions.
Ripple: Waiting on a Decision https://t.co/ty0LG3AASV
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In some of Judge Torres’ previous cases, she released her summary judgment decision concurrently with her findings on Daubert motions, and in others, it took her two to six months to render the summary judgment following the Daubert petitions.
Deaton predicts a September 6 ruling based on the six-month deadline and Judge Torres’ Daubert motion finding in the Ripple litigation, which was released on March 6.
Deaton believes that his proposed timeline disproves accusations that the SEC vs. Ripple case has been unusually drawn out.
Concerns have emerged within the XRP community as a result of the prolonged delay in the announcement of the summary ruling, according to Deaton.
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In response to this, Deaton suggests that Judge Torres may be purposely delaying the verdict due to the enormous significance of the SEC vs. Ripple case.
Judge Torres, according to Deaton, understands the importance of the Ripple litigation, knowing that her summary judgment decision will be scrutinized by thousands of people, including Appellate Courts.
Deaton further mentions that Judge Torres presently has over 500 open cases, including 44 criminal charges. This assignment requires a significant amount of time and effort since she must analyze and evaluate multiple papers, including the voluminous filings by Ripple and the SEC.
Deaton underlines the abundance of paperwork involved in analyzing the case’s intricacy, with both Ripple and the SEC filing summary judgment arguments and subsequent objections and replies covering hundreds of pages.
Previously, Deaton had anticipated a possible conclusion to the legal battle, suggesting that Judge Torres might issue the summary judgment decision on or before May 6. However, the unfolding events did not align with his earlier forecast, as the judge continues to withhold her ruling.
XRP Community Anticipation and Its Implications
The XRP community, along with other stakeholders in the cryptocurrency sector, is in anticipation of the summary judgment. The outcome of this action is expected to have far-reaching consequences for the future of the XRP and may affect regulatory developments in the crypto industry, especially in the United States.
Throughout the court processes, XRP supporters have expressed their displeasure with its long duration and the resulting market instability. The importance of the SEC vs. Ripple action cannot be overstated, as it has repercussions that extend beyond the parties involved.
Read Also: John Deaton Explains Why XRP Holders Need to Form Alliance With Coinbase Despite Delisting XRP
The extended wait for a decision has fueled speculation and worry among XRP investors, prompting some to question the fairness and effectiveness of the legal system. However, legal experts such as John Deaton remind observers that complex issues, particularly those involving unique digital assets such as XRP, frequently necessitate painstaking analysis and extensive evaluation of both parties’ arguments.
Despite the community’s eagerness for a resolution, XRP supporters are optimistic that the summary judgment ruling will give much-needed clarification and create a precedent for regulatory bodies’ treatment of other cryptocurrencies. The conclusion of this case is important not only for the legal implications but also for the broader acceptance and regulatory framework surrounding digital assets
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