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

Ripple Labs was sued by the SEC and two of its officers for selling illegal securities on 22 December 2020. 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 Tores, however, seems content with these delays. She wants to reach a decision as quickly as possible.

SEC and Ripple Cases to Close 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.

It seemed that the litigation would continue into 2023. Judge Torres however has ordered that any motions to the judge summary be submitted by November 15th 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 say that Ripple’s decision in the Ripple Vs. SEC case may become an example for other digital currencies.

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