Legal dispute between Ripple and the Sec: Why the judgment is delayed and what possible punishments threaten

Legal dispute between Ripple and the Sec: Why the judgment is delayed and what possible punishments threaten

In the legal dispute between Ripple and the US stock exchange supervisory authority SEC (Securities and Exchange Commission), those involved and the crypto community are eagerly awaiting a judgment that has been pending for 931 days. The last publicly visible campaign in this legal dispute took place on June 13, when the so-called Hinman documents were published. Since then there has been silence.

Lawyer John E. Deaton, who represents 75,000 XRP investors as "Amicus Curiae", recently commented on Twitter and explained the reasons for the long time until a decision. He also wants to dispel speculations about the case. Deaton's Twitter-Thread reveals an interesting aspect of the Ripple vs. sec: The surprisingly long time that has passed until a decision.

DEATON points out that in December 2022 the response types for a summary judgment were submitted. It is remarkable that judge Torres has needed seven months of thinking before making a decision. However, Deaton emphasizes that it is important to look at other cases in front of judge Torres, where there were similar delays.

He mentions the case of Thor Equities as an example, which is also negotiated in front of judge Torres. The reply were submitted in December and to date, judge Torres has not yet made a decision. Deaton emphasizes that the ripple lawsuit is not an isolated case.

To clarify the context, Deaton refers to the case of the N.Y. District Carpenter’s Fund, in which judge Torres's decision was made more than eight long months after submitting the reply. There is also the Quiller Inc.

The extended waiting period has triggered frustration and speculation in the crypto community. However, Deaton warns for caution and assures the XRP community that there is a larger picture. He emphasizes that judge Torres is aware of the weight and meaning of her decision.

In a recent Twitter response, Deaton provides further insights into the Ripple vs. Sec. In doing so, he highlights the status of the XRP true-to-metropolitan accounts and the possible punishments that threaten the company. Contrary to the assumption that Ripple's trust accounts are permanently closed, Deaton makes it clear that the SEC primarily wants to achieve a significant fine of $ 1.3 billion and a permanent relief order.

DEATON also indicates the possibility of a criminal phase if Ripple loses. This could be fines, maintaining profits and an injunction against future violations. However, the fate of Ripple's trust accounts will probably remain intact, unless an agreement is reached after the decision by judge Torres.

It remains to be seen when judge Torres will make a decision in this lengthy case. The XRP community hopes that the judgment will significantly influence the future of Ripple and XRP. Until then, it is important to be patient and wait for the judge's decision.