In the SEC and Ripple case, it was noteworthy that Judge Analisa Torres partially accepted the demands of both parties.
The legal battle between the SEC and Ripple, which has become complicated, may conclude towards the end of this year, according to many names. Examining whether Ripple is a security, US officials also discuss the details presented by the SEC. However, on the other hand, Ripple has objections that are justified and can be accepted. Finally, Judge Analisa Torres showed that she had taken an “impartial approach” by partially accepting the demands of both parties.
SEC and Ripple Riddle: The Judge Hears Both Sides!
In the lawsuit between the SEC and Ripple, the biggest concern of crypto investors is that legal proceedings will end up against Ripple. However, Judge Analisa Torres’ approach to the case came to the fore as an indication of impartiality and Ripple being listened to.
Judge Analisa Torres announced her decision regarding the petitions filed by both parties to “deny expert testimony” in the US Securities and Exchange Commission (SEC) lawsuit against Ripple. Torres partly accepted and partly rejected the demands of both parties.
Attorney James K. Filan, who provided instant updates on the case, shared a copy of Judge Torres’ decision in a tweet today.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres issues Ruling on Parties’ Motions to Preclude Expert Testimony.https://t.co/s8mhAWPNjE
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) March 6, 2023
Quoting this share of James K. Filan, Scott Chamberlain, the former lawyer and founder of Evernode in the XRP Ledger network, evaluated this situation positively. “It stands out how sharp, meticulous and utterly impartial Judge Torres was,” Chamberlain said. said.
In addition, XRP maximalist Attorney John E. Deaton shared about this whole process. Deaton stated that Judge Torres partially accepted Ripple’s request, invalidating the perceptions of SEC experts regarding the XRP side. Ripple’s request, which was partially accepted, was “to invalidate the testimony of the SEC’s number one expert.” According to Deaton, this expert was forming various perceptions towards XRP. Deaton shared this development by underlining that the XRP community is making a difference.
“@Ripple’s Motion to Exclude Expert No. 1 from testifying is GRANTED as to his first opinion about the perceptions of a reasonable XRP purchaser, and DENIED as to the remainder of his testimony.”
– Judge Torres
Now try and tell me #XRPHolders don’t make a difference!
— John E Deaton (@JohnEDeaton1) March 6, 2023
In another share of Deaton, the part that was not accepted in the partial acceptance of Ripple’s request was quoted as follows; “Third opinion on the risks to the XRP Ledger side should Ripple go away or disappear.”
However, the accepted part of Ripple’s request was the rest of the expert’s statement. Thus, the expert will not be able to convey perceptions about XRP to Judge Torres. For Ripple, this seems significant because it deals a potential blow to the SEC’s claims that all XRP sales represent unregistered securities sales.
With this hot development, the entire XRP community started to celebrate Torres’ neutral approach and that Ripple has not lost yet.
Responding to the recent developments, Attorney Jeremy Hogan, a pro-XRP attorney and partner of Hogan and Hogan, also hinted that the recent decision makes it more difficult for the SEC to prove that XRP holders have reasonable profit expectations from Ripple’s efforts.
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