- 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.
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.
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