After the recent update, the Ripple vs SEC lawsuit is expected to reach its destiny very soon. Both parties have submitted their briefs in court, expecting the judgement to be in favour of them. Ripple CEO, Brad Gardlinghouse recently mentioned that Stuart Alderoty is offering tough times to fight against crypto regulation.
Stuart Aldertoy, the General Counsel for Ripple appreciated the efforts carried out by the CEO and believe that the case could be approaching the end of the lawsuit. After submitting the final brief by both parties, the upcoming summary judgement could change the digital asset’s definition under the US Securities law.
The lawsuit between Ripple & SEC is approaching a crucial phase which may further put an end to the debate over the crypto market. Hence a closure could be imminent as the judge is already dealing with multiple motions from both parties.
On the other hand, Ripple has already spent around $100 million to defend itself in the case against the SEC. Meanwhile, many believe it to be just a shield for the crypto industry from the SEC’s overregulation. However, the Ripple Counsel has earlier called out the SEC over the BlockFi bankruptcy case due to extensive exposure to the collapse FTX crypto exchange.
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