Legal
Crypto Market News: Referring to Judge Analisa Torres’ history of judgements, John Deaton, the lawyer representing XRP token holders in the Ripple Vs SEC lawsuit, laid out a new timeline predicting when the Summary Judgement will be delivered. It may be recalled that Deaton had earlier predicted May 6, 2023 to be the rough deadline for the judgement based on the judge’s track record after she delivered Daubert motions. However, it was only a rough estimate by averaging out the judge’s time taken in her previous judgements involving Daubert motions.
Also Read: When Will Bitcoin Price Reach Its Peak In 2023?: TimeFrame Prediction By Expert
Considering the regulatory weightage the XRP lawsuit’s premise holds, it is already well established that the Summary Judgement could be extremely important for the crypto market ecosystem in the United States. In its lawsuit against Ripple in 2020, the U.S. Securities and Exchange Commission (SEC) claimed that the company sold XRP tokens in an unregistered security offering. Interestingly, several crypto industry companies had in the recent times been dragged into lawsuits over similar charges.
When To Expect XRP Lawsuit Summary Judgement
In his fresh prediction, Deaton factored in the public release of Hinman speech documents by June 13, 2023. He said Judge Torres could most likely deliver the judgement by the end of September 2023. Speaking in an interview on Friday, the attorney explained that if the judgement is delivered after all the Hinman exhibits are made public, the judgement would make more sense.
“I will be shocked if we did not get decision from the Judge by the end of September. I will absolutely be shocked and I don’t see that happening. Not a decision of this magnitude.”
Meanwhile, the crypto asset prices have in recent times plateaued after concerns of US banking crisis slowed down. Yet, rising interest rates could likely increase liquidity in the market, only to benefit risky assets like Bitcoin, according to experts. Read More to know the timeline prediction: When Will Bitcoin Price Reach Its Peak In 2023?
