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Ripple v. SEC: Top Lawyer Provides Insight into Potential End Date of May 6

Fri, 04/07/2023 - 09:47
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Gamza Khanzadaev
XRP holders' representative discusses why SEC v. Ripple case may end by this date
Ripple v. SEC: Top Lawyer Provides Insight into Potential End Date of May 6
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Pro-crypto lawyer and legal representative for XRP holders John Deaton has provided clarity regarding his statement about the possible end of the SEC's case against Ripple on May 6. According to Deaton, the suggestion is based on a previous case by the same judge, Analisa Torres, who then granted summary judgment 60 days after her Daubert decision.

Ripple v. SEC: Expert Shares Key Takeaways from Judge's Ruling on Testimony Admissibility

This term in U.S. jurisprudence refers to a decision based on a legal ruling that sets standards for the admissibility of scientific and expert testimony in court. In the SEC's case against Ripple, the Daubert decision was to exclude the testimony of SEC witness Patrick Doody, hired by the regulator to analyze the motives of XRP buyers.

Nothing concrete

Given that the exclusion of Doody's evidence occurred on March 6, and previous experience with this judge suggests that another 60 days should elapse, one would expect the case to be resolved by May 6, says Deaton. However, the lawyer immediately stresses that he does not consider it an exact date, only that he would be surprised, but not shocked, if it did happen.

XRP Forms Its First 2023 Golden Cross: Details

All in all, a potential end date of May 6, based on previous experience, may offer investors and enthusiasts some insight into when the SEC's case against Ripple will be resolved. As many had previously expected, including Ripple CEO, Brad Garlinghouse, things would be settled in the first half of 2023. However, as is often the case with any legal case, there is always the possibility of unexpected delays.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.