The Ripple v. SEC Case: When Can You Expect a Ruling?
The case between the United States Securities and Exchange Commission (SEC) and Ripple is of great importance to the cryptocurrency community. It will determine whether XRP is considered a security, which could have significant implications for the industry. So, when can we expect a ruling? Attorney John E. Deaton and Ripple’s CTO, David Schwartz, have shared their thoughts on the matter.
- Judge Analisa Torres has been taking a relatively long time to pass a ruling, but this is not uncommon. Similar cases before her have taken months for a decision.
- Deaton highlighted that other cases, such as the Thor Equities and N.Y. Disctrict Carpenter’s fund cases, took seven to eight months for Judge Torres to rule.
- Despite expecting a ruling by now, Deaton believes that the judge is aware of the importance of her decision.
According to David Schwartz, it’s understandable that waiting can be frustrating. However, he doesn’t see anything unusual until at least the end of September. John Deaton agrees, stating that if the decision is still pending by September 30th, it would be the first time Judge Torres exceeds the nine-month mark for a ruling.
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