The post Ripple Vs SEC Lawsuit: What’s Holding Up the Judgment? appeared first on Coinpedia Fintech News
The legal battle between Ripple and the Securities and Exchange Commission (SEC) has been ongoing since 2020, and the outcome is eagerly anticipated by the cryptocurrency community. The Ripple case has piqued the interest of industry experts and outsiders alike, with many believing that the decision might potentially alter the cryptocurrency sector in the United States.
However, the judgment seems to be constantly getting delayed. Let’s explore the reason for it.
Recent developments in the Ripple vs SEC lawsuit
The House Financial Services Committee’s rigorous grilling of US Securities and Exchange Commission (SEC) Chair Gary Gensler was an optimistic development for the cryptocurrency sector. The criticism Gensler received at the hearing might serve as confirmation of the long-standing demand for regulatory clarity in the cryptocurrency market space.
Several Congressmen highlighted the urgent need for a solution to the regulatory problems relating to cryptocurrency transactions in the US. In that pursuit, Gensler might have to appear before additional Congressional hearings. It remains to be seen, however, whether such hearings will further postpone the resolution of legal proceedings in crypto-related lawsuits.
Highly Unpredictable when Judge Analisa Torres will give a ruling
Following the March 2022 ruling in the Ripple vs SEC litigation, experts believe that the Summary Judgement will be issued before May 6, 2020, which is a 60-day term. However, when Judge Analisa Torres will issue her decision is very uncertain, especially after the Gary Gensler Congressional testimony sparked enormous controversy in the mainstream.
Before the summary judgment decision, the SEC Chair may be the subject of numerous further congressional hearings, according to XRP influencer Mr. Huber.
“I think it is likely that there will be several more congressional hearings of Gensler and his successor before Torres even starts working on her Summary Judgement ruling.”
The Congressional hearing could have a significant impact on the court ruling for Ripple and the 76,000 XRP holders, and its importance should not be underestimated.
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