• Ripple and the SEC have filed their final round of briefs in December, requesting the court to grant them summary judgment.
• The CEO of Ripple, Brad Garlinghouse, expressed hope at Davos that the company’s legal dispute with the Securities and Exchange Commission will be resolved in 2023.
• James K. Filan predicts that the court’s judgment is expected soon and a decision could be made as early as June.
The legal dispute between Ripple and the Securities and Exchange Commission (SEC) has been ongoing since late 2020. After months of proceedings, both parties submitted their final round of briefs in December, requesting the court to grant them summary judgment. The court documents also included Omnibus applications to seal documents related to the summary judgment motions.
At the World Economic Forum in Davos, Switzerland, Ripple’s CEO Brad Garlinghouse shared his optimism about the outcome of the case. He expressed hope that the dispute would be resolved in 2023, and possibly even sooner in the first half of the year. He believes that the facts and the law are in Ripple’s favor, and he is confident that the court will reach a favorable decision.
James K. Filan, a lawyer associated with the case, provided an update on the proceedings on Twitter. He said that all motions have been thoroughly briefed and the court’s judgment is expected soon. He further noted that a decision could be made as early as June.
The outcome of this case could have a significant impact on both Ripple and the cryptocurrency industry as a whole. If the court rules that XRP is a security, it would be subject to SEC regulations and could open the door for other regulatory bodies to classify cryptocurrencies as such. On the other hand, if the court rules that XRP is not a security, it could help to legitimize the cryptocurrency industry and provide greater legal certainty to its participants.
For now, all that remains is to wait for the court’s decision. Ripple and the crypto industry are hopeful that the judge’s ruling will be a positive one, and that the case will be resolved in 2023. In the meantime, Ripple and other cryptocurrency companies will continue to work with regulators to ensure that the industry remains compliant with all applicable laws.