The long-awaited verdict for the Ripple vs. SEC lawsuit is set to be delivered in April. Given the significance of this case for the crypto industry in the USA, many are eagerly awaiting the outcome.
Attorney John Deaton, founder of Crypto Law and a vocal supporter of Ripple’s XRP, has shared his thoughts on the case’s possible verdict in a recent podcast with Thinking Crypto.
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Ripple’s Motion for Summary Judgment
In its motion for summary judgment, Ripple argued that if the SEC’s case theory was granted, the court would implicitly accept the existence of an investment contract without a contract. Deaton commented on this argument, stating that it would only be effective in the Second Circuit, unlike the First, Fifth, and Ninth Circuits.
He further emphasized that investment contracts have been discovered by judges in other jurisdictions even without an underlying contract, such as from a company’s brochure to investors that contained assurances.
Judge Torres’ Potential Ruling
Deaton believes that Ripple’s argument may be viewed as an “offering” by Judge Torres and that she might reject Ripple’s claim that the transaction did not involve an investment contract due to the lack of an underlying contract.
However, Deaton predicts that the Supreme Court will accept the argument. Despite this, he believes that Ripple will benefit from Judge Torres’ summary ruling, as he argues that the SEC’s theory is too broad and that Ripple would ultimately prevail in the case.
Possible Timeline for Decision
Deaton predicts that the summary judgment decision from Judge Torres may be made before May 6, but it is difficult to predict and could potentially be postponed until June 1. He also notes that only the staff of Judge Torres and the court clerks who assisted her in obtaining research aids can accurately predict the date of the decision.
Related: Ripple vs SEC Ruling POSTPONED! What Does It Mean for XRP Investors? – Coinpedia Fintech News
Do you think Ripple will ultimately prevail in the case, or will the SEC’s theory hold up in court?
