Judge Torres Modifies Joint Proposed Calendar to End Ripple vs. SEC Lawsuit Before Christmas

After claiming “a very big win” in early April, Ripple could see its protracted case against the Securities and Exchange Commission (SEC) come to an end before Christmas.

Delays in the SEC Vs. Ripple Case

On December 22nd, 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives for offering illegal securities. However, the case looks likely to swing in favor of Ripple.

Although Ripple has countered the SEC’s claims, the securities agency has been accused of employing delay tactics to stall the lawsuit’s conclusion. However, Judge Analisa Torres appears to be done with the delays as she wants a verdict reached as soon as possible.

SEC Vs. Ripple Case to End this Year

Attorney James K. Filan, a former U.S. prosecutor, shared a “pleasant surprise” in response to the Joint Schedule order letter written by the SEC and Ripple. 

While it looked certain that the lawsuit was destined to drag on into 2023, Judge Torres has ruled that motions for the judgement summary must be fully briefed by November 15th, 2022.

Responding to the news, Jeremy Hogan, a Hogan & Hogan law firm partner, opined that Judge Torres “wants the Ripple v. SEC case over before Christmas.”

On the Flipside

  • The SEC case has weighed heavily on Ripple’s XRP token, which is currently 85% down from its all-time high.

Why You Should Care

According to experts, the outcome of the Ripple vs. SEC case could become a precedent in determining the legal status of other digital currencies.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia