For those patiently following the Ripple vs. SEC lawsuit, there’s a flicker of hope on the horizon. Ripple’s CTO, David Schwartz, recently shared a positive outlook in an interview with Tony Edward, the founder of Thinking Crypto, suggesting a potential resolution to the case in 2024.
In a recent interview, David Schwartz expressed optimism, hinting at a “reasonable chance” of the SEC vs. Ripple lawsuit finding closure in the year 2024. While specifics were not provided, Schwartz’s statement has piqued the interest of the XRP community.
Insights into the Remedies Stage
The SEC vs. Ripple case has entered the remedies stage, with the last motion expected by April 29, 2024, according to the court’s schedule. Following this, the SEC will respond to Ripple’s opposition to their remedies-related motion. Legal experts anticipate Judge Analise Torres may issue the remedies ruling by the summer of 2024.
Judge Torres Adds Intrigue
In a recent development, a New York judge mandated that Ripple Labs provide financial statements and information on the institutional sale of XRP tokens. This followed a lawsuit accusing the crypto firm of unlawfully selling unregistered securities nationwide.
Judge Analisa Torres’ earlier ruling in July, which identified only Ripple’s institutional XRP sales as violating U.S. securities laws, was seen as a victory for the crypto industry’s quest for regulatory clarity.
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Ripple to Submit Critical Documents
Documents from violations predating the 2020 filing will aid Judge Torres in determining whether to impose injunctions or civil sanctions. Notably, in early January, the SEC sought sanctions against Ripple, intensifying the legal standoff.
While factors influencing Schwartz’s prediction remain unclear, the ultimate resolution lies in the hands of the presiding judge. Ripple, amid legal twists and turns, has seen moments of triumph, and its dedicated community hopes for continued positive outcomes.
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