coinedition.com
Attorney John E Deaton has clarified that there was no deadline for Judge Analisa Torres to decide on the ongoing Securities and Exchange Commission (SEC) lawsuit against Ripple Labs.
There’s a huge misunderstanding on CT and YouTube. Only motions that have been pending more than 6 months must be reported on a list to Congress. The 6 month list does not apply to Judge Torres’ summary judgment ruling b/c the motion has been pending for a little over 3 months. https://t.co/oAdVeLlAZ2
— John E Deaton (@JohnEDeaton1) March 31, 2023
Deaton, who represents thousands of XRP holders, took to Twitter to explain that there was no set timeline for Judge Torres to release the decision. The announcement came after many in the cryptocurrency community had anticipated a ruling yesterday based on a forecast made by attorney James Filan.
Many XRP holders and cryptocurrency enthusiasts have been eagerly awaiting the case’s outcome, which centers on whether Ripple‘s sale of XRP constitutes an unregistered security offering. Despite the lack of a set deadline, the decision is still expected to significantly impact the cryptocurrency market and the legal classification of digital assets.
According to Deaton, the decision regarding the summary judgment could be made as early as within the next hour or could take another 30-60 days. He also reminds the community that Judge Torres has historically issued her rulings on summary judgment within a few months of her Daubert/Experts’ decision, as evidenced by previous cases. Deaton also adds:
The final proofreading could occur right now, or the judge could take the weekend to proofread it carefully. This ruling could shape the entire blockchain and crypto landscape in the United States for the next five years or longer.
Furthermore, as Deaton states, this particular court ruling carries immense significance, with only a small percentage of court rulings having comparable importance. The potential impact of the judge’s decision could extend beyond the United States.