The long-awaited decision in the case between the US Securities and Exchange Commission (SEC) and Ripple Labs is expected to be announced soon, with legal experts predicting that Judge Analisa Torres will rule by late April. The SEC filed a lawsuit two years ago alleging that the company sold unregistered securities. The decision is expected to be significant for the entire cryptocurrency industry, and the outcome is being closely watched by both parties. Ripple community attorney John E. Deaton believes that the judge is being extremely cautious in her decision-making process, given the magnitude of the case.
Deaton noted that this is one of the most significant no-fraud SEC enforcement actions since 1946, and as such, the judge is likely under immense pressure to make the right decision. The conservative court to which the case belongs will no doubt add to Judge Torres’ scrutiny of the ruling, ensuring that the decision is legally sound and justified. In this context, Deaton believes that the judge is analyzing every word of her ruling before issuing the final judgment.
Although no official timeline has been given, experts are suggesting that the ruling will come either in late April or in the next few weeks. Deaton and legal expert James K. Filan believe that the ruling cannot come any later than the end of April, based on previous cases Judge Torres has presided over. According to Deaton, if the judge fails to issue the ruling by late April, it would be inconsistent with her handling of previous cases.
The Ripple team is hopeful that they will come out on top, referencing a recent decision by Judge Wiles that rejected SEC objections to Binance.US’s acquisition of Voyager. SEC claimed that the token (VGX) had an aspect of securities and that Binance.US was an unregistered securities exchange. Judge Wiles rejected the objections, citing uncertainty regarding whether cryptocurrencies are commodities subject to regulation by the CFTC or securities subject to securities laws. Ripple attorneys argue that his rationale aligns with many of their arguments.
Given the current status of the case, the coming weeks will be of utmost importance to both Ripple and the broader cryptocurrency community. Victory for Ripple could spur a seismic shift in the industry, leading to an explosion in XRP prices. However, any unfavorable outcome for Ripple will set a precedent for future cases involving digital assets and their classification as securities.
It is important to note that Crypto News Flash does not endorse or assume liability for any information mentioned in this article. Readers should conduct their own research and seek expert opinions before making decisions related to cryptocurrencies.