Attorney claims Ripple vs SEC verdict may take 2 more months


CoinDesk Consensus

Crypto enthusiasts, developers, and crypto companies await the Ripple v. SEC ruling to determine the next direction of the industry.

In particular, legal experts in the cryptocurrency industry predicted Following Judge Torres’ decision, the case was closed yesterday, March 31. But it didn’t happen. Instead, John Deaton, an attorney representing thousands of XRP holders, denied the deadline.

No Deadline for Ripple v. SEC Judgment, Deaton

lawyer deaton gave to twitter To clarify that March 31st was not the deadline for the Judge’s ruling. In his words, there is no certainty when a judge will decide. Next he may occur in 30 or 60 days.

Deaton also notes that the Civil Justice Reform Act of 1990 (CJRA) requires the executive officers of U.S. courts to prepare semi-annual reports covering district court motions pending judgment more than six months. Said there was

As such, summary judgment does not fall into this category as it has only been pending for more than three months. Deaton, however, clarified that Judge Torres usually issues summary judgment within a few months of the Daubert/expert’s decision.

This Decision Could Affect The Entire Crypto Industry

The cryptocurrency community is eagerly awaiting the court’s ruling on this case. this is, many meanings of decisions regarding the entire crypto industry.

The SEC is pushing to regulate cryptocurrencies, and if it wins this lawsuit, it could unlock more plans. Additionally, if the Commission succeeds in classifying XRP as a security, many other assets and several aspects of crypto operations will fall under its jurisdiction.

Additionally, if the SEC wins, US Senators Cynthia Ramis and Kirsten Gillibrand could introduce a bill in June 2022. Such legislation could empower the Commodity Futures Trading Commission (CFTC) to process crypto derivatives and trades.

Highlights of John E. Deaton’s Recent Posts some compelling reasons Why are the results in this case particularly important? In his view, there are few court rulings that could affect not only the United States but the entire world, leaving international holders in limbo.

“99.9% of all court decisions do not have the weight and materiality that this decision could prove. Judge decisions rarely have the impact not only in the United States but the world.” International holders are held hostage. 17 amicus briefs at the district court level.

According to Deaton, 99.9% of all past court decisions do not have the same meaning and weight.

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