David Schwartz, the Ripple CTO, expects Judge Analisa Torres to issue the summary judgment ruling in the SEC v. Ripple lawsuit before the end of September 2023. His tweet in response to weeks of unrest about the status of the trial generated further speculation that a decision should come down in the third quarter. CryptoLaw founder attorney John Deaton corroborated this anticipation by bringing light to Judge Torres’ delaying tactic for the judgment and long-time determining resolution for past cases such as Thor Equities motion in December of 2022.
Moreover, Deaton assured the XRP community that because of the case’s magnitude, Torres is likely taking extra time to make a sane and purposeful decision. The critical decision which has the potential to set an example in cryptocurrency regulation may result into either clear cut industry guidelines if Ripple is favored, or help the SEC to continue its customary body of enforcement works against crypto businesses if it does otherwise.
No matter the result of this trial, investors and cryptocurrency aficionados should keep it on their radar as it is crucial to ascertain the consecutive draft of tactics that SEC may take upon to regulate this uncharted sector.
