Concerning a recent court order in the SEC Vs Ripple update that partially granted a motion for summary judgment in the Ripple lawsuit, the district judge has referred the case for settlement discussions along with scheduling upcoming procedural motions.
Court’s Decision & Dates For The Ripple Lawsuit
Judge Phyllis Hamilton has announced a deadline of July 8 for the filing of a motion to discuss the specific aspects regarding the Ripple case update. Additionally, the parties involved have until July 26 to submit a notice indicating their stance on excluding testimony from four experts.
Notably, Ripple’s motion to exclude testimony from Steven P. Feinstein was deemed moot, along with the plaintiff’s motions regarding S.P. Kothari and M. Laurentius.
Judge’s Position on XRP Sales
As per the Ripple vs SEC case update, Zakinov v. Ripple Labs has been referred to Magistrate Judge Robert Illman for a potential solution between the parties. Judge Hamilton’s decision aligns with a previous ruling from the Southern District of New York (SDNY), affirming that XRP’s sales do not constitute securities. The court found insufficient evidence that XRP investors rely solely on Ripple’s efforts for profit.
Amid legal developments, XRP’s price experienced volatility, trading recently under $0.45. Despite fluctuations, the cryptocurrency saw a recovery with a 4% increase, reaching a 24-hour high of $0.438.
What’s In For The Final Judgement?
As the Ripple vs SEC lawsuit moves ahead, the XRP community awaits Judge Torres‘ decision on decided penalties in the Ripple lawsuit. Legal experts predict a verdict by the end of July that is going to affect the future of XRP.
This update underscores ongoing legal inspection and its implications for both Ripple and the cryptocurrency market.
For more such updates, stay tuned at ReadingCrypto!
