Ripple

Will Ripple’s Triumph Against The SEC Be Determined By This Single Word Order?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Feb 25, 2022

news-image
Highlights

    Judge Analisa Torres dismisses the SEC’s petition to submit Sur-Sur-Reply in a single word.

    XRP army rejoice over the recent ruling, whilst proponents clarify the buzz around the LBRY case.

  The crypto sphere amidst the current hassles prevailing from the tensity of geopolitical disputes. Has come across relief from one of its ails, which revolves around Ripple. However, a recent ruling from Ripple’s vs SEC lawsuit prevails in the favor of the defendants. 

Successively, Judge Analisa Torres in a recent order has dismissed the SEC’s petition to submit the Sur-Sur-Reply in a single word. The order coming from Judge Analisa Torres leads to the XRP army cherishing the win. In the interim, proponents clarify the buzz revolving around the LBRY case.

Also Read: Cardano (ADA) Price Poised To Flip at This Level! Here’s What Santiment Data Say!

Will This Bring An End To The SEC’s Tantrums?

  The recent order from the United States District Judge Analisa Torres has brought in the much-needed relief in Ripple’s lawsuit. In a one-word order, the judge has “denied” the SEC’s motion to file a Sur-Sur-Reply. Which would be in support of its motion to strike. The one-word order by Judge Analisa Torres can be read from the picture posted by Crypto Law TV.

The SEC requested to file a motion, referring to a ruling from a completely different “circuit striking” from an entirely different defence. Has irked proponents and the XRP army, who have been voicing against the filing. Conversely, partisans from the side of defendants have been citing that the SEC should be barred from fortifying its case. Whilst seeking references from out-of-context cases.

Defence Lawyer James K. Filan cites that, in the LBRY case, the court had ruled that the LBRY could not depose William Hinman. Further mentioning that, it was an oral ruling on the record. The order went as follows:

“ORAL ORDER granting 36 MOTION to Quash Deposition Subpoena Issued to Former Division of Corporation Finance Director William Hinman. Granted for reasons stated on the record at the hearing. So Ordered by Judge Paul J. Barbadoro.” All we know for now.  

Conversely, what has further reinforced optimism in the fraternity is the views of a former U.S SEC executive, in an interview. The former U.S SEC executive Joseph Hall in an interview mentioned that he is sympathetic to Ripple’s fair notice defence. It is also cited that the SEC has a lot riding on Ripple’s case. He believes that there will be appeals irrespective of the prevailing at the district court. 

Summing up, as previously mentioned the recent order from the judge has brought in cheer amongst the community. The order to a greater extent, will curb the irregular and out-of-context moves by the plaintiffs. Which will in turn reduce the recurring delays in the lawsuit. 

Also Read: Will Bitcoin (BTC) Mimic 2021 Price Action Again? $38K Crucial Resistance now

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button