Why July 1, 2023 Is Important Date For Ripple Lawsuit Judgement?
Crypto Market News: With the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs taking a new turn with the public release of Hinman Speech related files, the onus is now on Judge Analisa Torres to deliver the much awaited Summary Judgement. In essence, the Hinman documents revealed that the SEC was in favor of Ethereum, compared to other crypto tokens. Hinman emphasized that digital assets offered as securities can eventually change into a non-security asset. However, he chose to name only Ethereum as not a security, while the XRP holders have been affected by the Ripple lawsuit on the same argument.
Also Read: Mark Cuban Tried To Register Crypto Token With SEC; What Happened?
In March 2023, Judge Torres ruled on motions filed by both parties to rule out expert testimony. Over 100 days from the March ruling, the Summary Judgement is still awaited. This delay is longer than the Judge’s average time taken from Daubert rulings in previous cases, and hence, the Summary Judgement in Ripple lawsuit is expected to come any time.
Ripple XRP Victory Judgement Before July 1, 2023 ?
The US Federal Reserve had already announced that the FedNow Service will begin operations in July 2023. The service facilitates instant payment services by financial institutions all over the United States, around the clock and throughout the year. Interestingly, among the banks that have been onboarded for the July 1 launch are three Ripple partnered banks: Finastra, Volante Technologies and ACI Worldwide. Hence, the crypto community is wondering whether the Ripple lawsuit judgement has to be delivered before FedNow launch to ensure legal compliance.
Also Read: Macro Guru Raoul Pal: Gary Gensler “Not Stopping Crypto Entirely”
- “Trump Insider Whale” Opens $127M Short on Bitcoin Ahead of Trump’s Big Announcement- Is Another Crypto Crash Ahead?
- BREAKING: Deribit Revises Fee Structure as XRP, Solana Options Go Live on CME
- Trump Family’s Crypto Fortune Explodes as WLFI, MELANIA, TRUMP Tokens Drive $1B Gains
- Bitcoin Options Puts Exceed $1.15B As Negative Bias Jumps to Oct. 11 Crypto Market Crash Levels
- Expert Says A Pi Network Stablecoin PiUSD Could Be A Game-Changer for the Ecosystem
- Pi Coin Price Gears for Recovery as DEX and AMM Launch Revives Utility Hopes
- Cardano Price Teeters as Whales Exit and Bearish Signal Emerges
- Sui Price Targets $9.5 as Figure Brings SEC-Approved Yield Token YLDS to Sui
- Chainlink Price Eyes $100 as S&P Global Partnership Expands Institutional Adoption
- Solana Price Prediction as Whales Withdraw $169M from Exchanges
- Pro Says Ethereum Price is a Buy Despite Rising Liquidations and BlackRock Selling
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
