{"id":24833,"date":"2022-04-23T06:45:20","date_gmt":"2022-04-23T10:45:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=24833"},"modified":"2022-04-23T06:45:28","modified_gmt":"2022-04-23T10:45:28","slug":"ripple-vs-sec-court-case-likely-to-come-in-2023","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-vs-sec-court-case-likely-to-come-in-2023\/","title":{"rendered":"Ripple Vs SEC Court Case Likely To Come In 2023, Summary Judgement Will Start In August"},"content":{"rendered":"\n
The Ripple Vs SEC<\/a> jointly filed a letter recommending a summary judgment schedule. The judgment opening brief will begin on August 2, 2022. The final briefs will not be due until December 20, 2022<\/h5>\n\n\n\n
\"Ripple
Ripple Vs SEC Court Case Likely To Come In 2023, Summary Judgement Will Start In August<\/figcaption><\/figure>\n\n\n\n

Ripple Vs SEC Schedule For Summary Judgment<\/h2>\n\n\n\n

The Ripple Vs SEC<\/a> jointly filed a letter on Friday recommending a summary judgment schedule. On August 2, 2022, both parties agreed to begin a summary judgment opening brief. The final briefs, on the other hand, will not be due until December 20, 2022.<\/p>\n\n\n\n

A motion to exclude expert testimony is also being filed in conjunction with this.<\/p>\n\n\n\n

Any opposing motion for summary judgment and reply to the motion to exclude expert testimony must be filed by November 2, 2022, according to the letter. <\/p>\n\n\n\n

Ripple<\/a> and the other defendants, according to attorney Jame Filan, agreed to this timeline to avoid any further delays. If the defendants had not agreed to this timeline, the motion could have been delayed until 2023.<\/p>\n\n\n\n

This schedule is “worse than expected,” according to John Deaton<\/a>, an attorney for XRP holders. With this delay, he added, the outcome of this Ripple Vs SEC lawsuit would be known by the end of March 2023. <\/p>\n\n\n\n

However, before the ruling, Deaton stated that a settlement over emails and edited documents related to Hinman's Speech would be reached.<\/p>\n\n\n\n

The delay was criticized by Brad Garlinghouse, the CEO of Ripple<\/a> and a defendant in the case. He claims that the regulator is not required to follow its own rules.<\/p>\n\n\n\n

\n\n\n\n
\"\"
Garlinghouse, CEO of financial technology company Ripple Labs.<\/figcaption><\/figure><\/div>\n\n\n\n

The SEC seems perfectly content to let the US fall further behind \u2013 all in the name of protecting their own jurisdiction at the expense of US citizens. Politics over policy is good for no one. We need a clear regulatory framework now.<\/em><\/p>\u2014 Garlinghouse<\/em>, CEO of financial technology company Ripple Labs.<\/cite><\/blockquote>\n\n\n\n

\n\n\n\n

Ripple Is Pushing Hard To Resolve The Case Soon<\/h2>\n\n\n\n

Stuart Alderoty, Ripple Labs' general counsel, has posted a thread on Twitter explaining why the Ripple vs SEC case may be over next year and thanking everyone who has followed the case thus far.<\/p>\n\n\n\n

Thanking everyone who has been following the case's progress, Alderoty stated that both Ripple and the court are working hard, and he anticipates a resolution in 2023.<\/p>\n\n\n\n

The SEC, on the other hand, is working hard to postpone the conclusion of the legal case.<\/p>\n\n\n\n

In the thread, he stated that the SEC is hurting US-based crypto investors who hold XRP with each passing day of the case, as when the case was filed against Ripple in December 2020, the $15 billion market cap of XRP was dealt a fatal blow, and that was a blow to investors, whom the SEC<\/a> claims to protect.<\/p>\n\n\n\n

\n

To all that have been following the case thus far \u2013 thank you. Know that Ripple is pushing hard (and the Court is working hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay. https:\/\/t.co\/bP0shaNBOa\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Stuart Alderoty (@s_alderoty) April 22, 2022<\/use><\/svg><\/span><\/a><\/blockquote><\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Massive Transfer Of Crypto Talent, Tech, Wealth Are Moving Outside US<\/h2>\n\n\n\n

Criticizing the US government's anti-crypto stance, Ripple's general counsel also pointed out that the crypto industry is currently experiencing an exodus from the US, with “crypto talent, tech, and wealth” migrating to countries where governments can provide rational crypto regulation.<\/p>\n\n\n\n

\n\n\n\n
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Stuart Alderoty, Ripple Labs' general counsel<\/figcaption><\/figure><\/div>\n\n\n\n

“Already, we\u2019re seeing a massive transfer of crypto talent, tech and wealth moving offshore to jurisdictions with rational regulatory frameworks. Entrepreneurs are being advised to not start their projects in the US. How long can this be allowed to continue?”<\/p>\u2014 Stuart Alderoty, Ripple Labs' general counsel<\/cite><\/blockquote>\n\n\n\n

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SEC Are Confusing The Crypto Market<\/h2>\n\n\n\n

When the regulatory agency filed the case against Ripple Labs, Alderoty reminded the community that it never sought court permission to shut down XRP trading in the United States. <\/p>\n\n\n\n

Several crypto exchanges based in the country \u2013 Coinbase<\/a>, Bittrex, and others \u2013 as well as those based in other parts of the world \u2013 suspended it, assisting the SEC in achieving its goal.<\/p>\n\n\n\n

Aside from fighting Ripple, the SEC keeps the crypto market in a “cloud of uncertainty,” preventing it from expanding in the United States, despite the fact that, according to a recent Biden EO study, around 40 million Americans now own cryptocurrencies. <\/p>\n\n\n\n

\n

The Biden EO estimated that 40M Americans own crypto today \u2013 no thanks to the SEC who insist on saying that all – or most tokens – are securities, and that US exchanges are running unlawful security exchanges. If you ask which ones? No comment. No disclosure.<\/p>— Stuart Alderoty (@s_alderoty) April 22, 2022<\/use><\/svg><\/span><\/a><\/blockquote><\/use><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Despite this, the SEC continues to claim that the majority of them are securities and demands greater regulation of crypto exchanges.<\/p>\n\n\n\n

While the SEC won't be able to shut down any digital exchanges in their jurisdiction, they'll try everything they can to confuse the crypto market.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ripple Vs SEC jointly filed a letter recommending a summary judgment schedule. The judgment opening brief will begin on August 2, 2022. The final briefs will not be due until December 20, 2022 Ripple Vs SEC Schedule For Summary Judgment The Ripple Vs SEC jointly filed a letter on Friday recommending a summary judgment […]<\/p>\n","protected":false},"author":29,"featured_media":22913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24,21],"tags":[8171,9342,5607],"class_list":["post-24833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripples-news","category-news","tag-ripple-news-2","tag-ripple-vs-sec","tag-xrp-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/Ripple-Lawyer-Predicts-SEC-Will-Come-After-Crypto-Exchanges-Next.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=24833"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22913"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=24833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=24833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=24833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}