- Lawyer John Deaton predicts Judge Torres will deny SEC’s interlocutory appeal, delaying potential full appeal until late 2024.
- SEC contests Judge Torres’ Ripple XRP sales decision with interlocutory appeal, citing legal differences and Judge Rakoff’s dissent as support.
- Deaton clarifies that the approval given by Judge Torres allows the SEC to file a motion for an interlocutory appeal, not an actual appeal.
Renowned lawyer John Deaton expects a significant delay in the Securities and Exchange Commission’s (SEC) Ripple appeal. At the recent onXDC Live blockchain conference held from August 25 to 26, 2023, Deaton projected Judge Analisa Torres to dismiss the SEC’s interlocutory appeal, potentially pushing a full appeal to late 2024.
Read CRYPTONEWSLAND on
google news
Source: YouTube
The SEC had sought an interlocutory appeal challenging Judge Torres’ ruling concerning Ripple’s programmatic sales of XRP and other distributions. Citing differing legal opinions and referencing Judge Jed Rakoff’s dissent, the commission argued that the matter involves crucial questions of law.
Deaton emphasized a prevalent misunderstanding that the process of appeal was in progress, elucidating that the authorization provided by Judge Torres solely allows the SEC to submit a motion for an interlocutory appeal, rather than constituting an actual appeal in itself.
Ripple has a pending deadline of September 1 to submit its response to the SEC’s interlocutory appeal motion. Legal experts anticipate Ripple will oppose the motion, aligning with their earlier stance when the SEC first indicated its intention to appeal. Once Ripple’s response is filed, the SEC will have a one-week window to address any raised concerns.
Deaton’s prior speculation about Judge Torres rejecting the SEC’s appeal gained weight, as he believed the motion’s approval aimed to validate her initial ruling’s credibility. Deaton’s insights suggest a prolonged legal process, possibly spanning years, that could reshape cryptocurrency regulations through the ongoing Ripple-SEC saga.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
