Judge Torres is deliberating on penalties and injunctions in the Ripple Vs SEC case, with a decision expected in August.
Both parties may file appeals despite Ripple’s multiple wins, keeping the legal battle ongoing.
The decision on penalties and the injunction’s wording will significantly impact Ripple’s business and the broader cryptocurrency industry.
In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), Judge Analisa Torres is currently deliberating on a final ruling over penalties and injunction in the remedies phase.
BREAKING: Judge Analisa Torres is in the middle of deliberations, trying to come up with a final judgement for the years-long case between the SEC and @Ripple this week! #XRP pic.twitter.com/Dn4S6tbqwf
— JackTheRippler © (@RippleXrpie) July 29, 2024
This phase has sparked anticipation among the XRP community and legal experts, as they await a decision in the lawsuit, which is now expected in August after July nearly ends without any significant progress.
Despite Ripple’s multiple wins, the lawsuit is still considered a contentious issue for the SEC. Several people view the lawsuit as the weakest case for the SEC. However, lawyers have indicated that both parties could still file appeals against previous decisions, keeping the legal battle ongoing.
Several motions, including expert evidence, unseal documents, and final judgment, are pending before Judge Analisa Torres. Legal experts, such as Fred Rispoli, have suggested that Judge Torres might bypass motions before Judge Netburn and announce the final judgment in the remedies phase in July or August.
Experts have weighed in on the potential appeals in the Ripple Vs SEC case. Ripple vs SEC experts highlighted that the SEC not appealing the case would have negative implications for their other cases involving cryptocurrencies. Additionally, they have questioned why Ripple wouldn’t file an appeal against the decision that deems its XRP ODL sales as securities offerings, considering the significant impact it would have on the company’s revenue.
The ongoing case between Ripple and the SEC continues to draw attention from both the XRP community and legal experts. The final ruling, along with the possibility of appeals, will have implications for both parties and the cryptocurrency industry.
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