Cryptocurrency Market News: The wait for Summary Judgement in the XRP Ripple (XRP) lawsuit continues regardless of the positive developments in favor of Ripple in recent times. The United States Securities and Exchange Commission’s (SEC) argument dropped short as Judge Analisa Torres, who is overseeing the lawsuit, rejected the agency’s request to conceal the Hinman documents. In the meantime, in March 2023, the judge delivered a ruling on either parties’ motions to preclude expert witness testimony. This was seen as a win for the Ripple XRP Ripple (XRP) community as the ruling meant a neutral result for both Ripple and the SEC.
In a latest development, Ripple chief executive officer Brad Garlinghouse predicted that the XRP Ripple (XRP) Vs SEC lawsuit may be concluded in a matter of few weeks. CoinGape informed that the CEO intimated at a resolution over the Hinman documents could lead to a judgment delivered in the coming weeks.
XRP Ripple (XRP) Attorney: Good Luck On Summary Judgement Prediction
John Deaton, the lawyer who represents the greater than 70,000 XRP Ripple (XRP) crypto token holders in the SEC lawsuit, stated that it can potentially take longer than predicted for the Summary Judgement. On behalf of myself, I simply say to Brad Garlinghouse, good luck with that prediction, he said in a tweet in response to news of the prediction. Irrespective of the timeline of the lawsuit, the judgement could have life changing impact on the cryptocurrency market, as the result may be used as a reference for other cryptocurrency lawsuits in future.
The SEC had been targeting plenty of cryptocurrency enterprises over non-compliance with regulations, since the beginning of 2023. It is likewise expected that the agency would continue its ‘enforcement by action’ stance in the case of cryptocurrency market compliance.