Ripple vs. SEC Lawsuit: Attorney Deaton Sheds Light On Judge Torres’ Ruling Delay

The founder of CryptoLaw, John Deaton, has revealed reasons why Judge Torres holds back on ruling the lawsuit between Ripple and the SEC. He made this clear in a video clip posted on Twitter.

The lawsuit has been ongoing since December 2020, with the SEC alleging that the crypto firm executed the sale of its token without registering it as a security.

The Ripple (XRP) community has long awaited the case conclusion, predicted to be at the end of March. However, no date has been fixed for the summary judgment, and here’s what Deaton has to say about it.

Deaton Gives Reasons Judge Torres Is Delaying The Lawsuit Ruling

The case between the SEC and Ripple is sensitive and critical, particularly for the blockchain company. Deaton noted that Judge Torres is aware of this fact and is ensuring that she makes no mistakes in her summary Judgement.

Deaton believes that the pressure on the judge, especially from the XRP community, is something she has never experienced in her entire career.

Some members have long been expressing dissatisfaction with the delay and demanding reasons for it. They believed the summary judgment would come before the end of March but were disappointed.

Based on Deaton’s speech, the United States digital currency industry regulation has been unclear to many. He and several others believe that her ruling in the case will change the narratives in the industry.

Further, Deaton noted that there had not been a bigger non-fraud case like the one between the SEC and Ripple since 1946. As such, the judge is not taking any chances for errors in delaying the summary judgment.

The attorney believes that Torres is taking a smart step by delaying the ruling, knowing that any decision against the blockchain firm will force it to take the case to a higher court. However, if the ruling favors Ripple, she will have to defend her decision to the other party’s satisfaction.

Further, Deaton admonished the XRP community to be patient, seeing the difficulty in the decision-making. He believes the judge could wait another two months to give the summa

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Author: Eli Dambell

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