Ripple’s Legal Chief Says Lawsuit Win Is in the Bag

March 8, 2023 at 01:53 PM GST 2 mins read Altcoin News

Ripple’s legal chief Stuart Alderoty expressed growing confidence in their win against the SEC.
SEC’s critical experts were removed from the suit while those on Ripple were allowed to stay.
Many are expecting Judge Torres’ final decision to come sooner rather than later this year.

Ripple’s Chief Legal Officer Stuart Alderoty couldn’t contain his excitement regarding the recent development in their defense against the US Securities and Exchange Commission (SEC).

As we have said throughout, we have always felt confident about our case and with each ruling, even more so. 4/4

— Stuart Alderoty (@s_alderoty) March 8, 2023

The source of Alderoty’s growing confidence in their victory against the SEC came from the recent decision of Judge Analisa Torres. Specifically, Judge Torres ruled that at least two people from SEC’s camp will be removed.

One of these is an expert who was supposed to help SEC establish that XRP buyers had “reasonable expectations.” Meanwhile, SEC counted on the other expert to help provide an explanation as to what caused the price of XRP to change.

In stark contrast, those from Ripple’s side were allowed to stay.

On the flip side – our experts that explain how Ripple’s contracts clearly differ from those in “Howey,” tax treatment of XRP (not a security), accounting treatment of XRP (not a security), and currency experts on XRP (not a security) are all allowed to stay in. 3/4
— Stuart Alderoty (@s_alderoty) March 8, 2023

Interestingly, many perceived this decision by Judge Torres to be utterly fair. Scott Chamberlain, Co-founder of Australia-based Layer 2 smart contract platform Evernode, remarked on Judge Torres’ impartiality.

“Neither side gets everything it asked for because neither side had impeccable arguments for everything it wanted,” Chamberlain said. “What leaps out is how sharp, rigorous, and utterly impartial Judge Torres is.”

Judge Torres’ final decision regarding the 2-year legal battle between Ripple and SEC is expected to come sooner rather than later this year. Many people in the crypto industry are rooting for Ripple to win, as this will set the precedent for future crypto lawsuits in the US.

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