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Ripple v. SEC: XRP Holders Rejoice on Latest Scheduling Update, Here's Why

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Fri, 20/01/2023 - 10:58
Ripple v. SEC: XRP Holders Rejoice on Latest Scheduling Update, Here's Why
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According to the most recent updates by James K. Filan in the ongoing Ripple-SEC lawsuit, all motions are now fully briefed, and the judge's decision is awaited. This represents good news for XRP holders who have waited for the briefings to end.

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In December, Ripple and the SEC submitted their final round of briefs, asking for summary judgment in the case.

As motions for summary judgment and those to exclude expert testimony have now been fully briefed, omnibus motions to seal materials relating to the summary judgment motions have also been filed by both parties.

In October, Ripple announced that it now had the documents of former SEC employee William Hinman, although they are still under seal.

Brad Garlinghouse, CEO of Ripple, raised the possibility that the SEC official's emails may include some damning material at the WEF in Davos. Bill Hinman, a former SEC employee, said in a lecture in June 2018 that Ethereum was not a security.

Ruling to arrive "sometime in the coming single digit months"

An earlier prediction by James K. Filan suggests that District Judge Torres might decide on the motions simultaneously in one "big written ruling."

Brad Garlinghouse, CEO of Ripple, expressed optimism at Davos that a resolution to the company's legal battle with the Securities and Exchange Commission will be reached in 2023, possibly in the first half of this year.

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He continues by saying that he anticipates a decision to be made "some time in the coming single digit months" — possibly as early as June.

Important repercussions will be felt by both Ripple and the larger crypto market as a result of the lawsuit concerning whether XRP should be regarded as a security.

In 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and two of its executives, claiming that it offered XRP to investors in violation of the law without first registering it as a security.

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