After claiming “a very big win” in early April, could see its protracted case against the Securities and Exchange Commission (SEC) come to an end before Christmas.

Recall of the SEC Vs. Ripple Case Delays

The SEC brought a case against Ripple and its two executives on December 22, 2020 for illegally offering securities. The case appears to be in Ripple’s favor.

Although Ripple has countered the SEC’s claims, the securities agency has been accused of employing delay tactics to stall the lawsuit’s conclusion. Judge Analisa Turres seems to have gotten fed up with delays and wants a quick verdict.

SEC vs. Ripple Case Ending this Year

Attorney James K. Filan, a former U.S. prosecutor, shared a “pleasant surprise” in response to the Joint Schedule order letter written by the SEC and Ripple.

Although it seemed certain that this lawsuit would drag on to 2023, Judge Torres ruled that all motions for the judgment summary must be filed by November 15, 2022.

Responding to the news, Jeremy Hogan, a Hogan & Hogan law firm partner, opined that Judge Torres “wants the Ripple v. SEC case over before Christmas.”

Flipside

• The SEC case has weighed heavily on Ripple’s XRP token, which is currently 85% down from its all-time high.

What You Need to Care About

Experts believe that the Ripple case vs. SEC could be a precedent for determining legal status for other digital currencies.

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