Ripple v. SEC Lawsuit Gets “The Best Update Ever”

Deaton Names James Filan’s Latest Tweet on Ripple v. SEC Lawsuit “The Best Update Ever.”

The long-running legal brawl between Ripple and the U.S. Securities and Exchange Commission edges close to an end.

In a tweet today, top U.S. defense lawyer James K. Filan informed his over 138K followers that as of January 19, 2023, “everything is briefed” in the lawsuit.

This suggests that the parties, Ripple and the SEC, have made the necessary filings, including motions for summary judgment and motions to seal all materials relating to the summary judgment motions.

Filan’s tweet comes as part of efforts to update the XRP community on the scheduling updates of the lawsuit. An excerpt from the attached image read: “Now we wait.” 

#XRPCommunity #SECGov v. #Ripple #XRP Scheduling Update as of January 19, 2023. pic.twitter.com/a1ljUtGiV3

— James K. Filan ???? 126k (beware of imposters) (@FilanLaw) January 20, 2023

Judge Analisa Torres is currently reviewing the multiple briefs filed by the parties before making a final decision.

XRP Community Reactions

Reacting to the tweet, XRP community members took to the comment section to express gratitude to Filan for keeping them updated throughout the lawsuit, which has lasted for over two years.

Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, was among those who expressed gratitude to Filan for his efforts in keeping the crypto community updated. 

Thank you Jim for everything.

Now we wait, indeed.

— Jeremy Hogan (@attorneyjeremy1) January 20, 2023

XRP community attorney John Deaton also reacted to the latest scheduling update shared by Filan. Deaton referred to Filan’s latest Ripple v. SEC lawsuit tweet as “the best update ever.”

The best update ever https://t.co/DhpE2lJykz

— John E Deaton (@JohnEDeaton1) January 20, 2023

Ripple v. SEC Legal Brawl

In December 2020, the SEC dropped a bomb on the crypto industry by suing Ripple and two of its executives – Brad Garlinghouse and Chris Larsen. The Securities and Exchange Commission claimed that Ripple and its execs sold unregistered securities in the form of XRP.

The case, which Forbes dubbed “the cryptocurrency trial of the century,” is expected to set a precedent for the future of the U.S. crypto market. A win for Ripple could pave the way for regulatory clarity in the United States. However, a ruling in favor of the SEC could give the regulator a powerful weapon to go after other cryptocurrency projects.

In previous updates, Filan has predicted that Judge Torres would likely make a final decision on the case before the end of March 2023.

Meanwhile, Ripple’s CEO recently told CNBC that he expects a final resolution of the company’s legal brawl with the SEC to happen in the first half of this year. Garlinghouse added that he is confident about the outcome based on Ripple’s position with the law.

“The case is now fully briefed in front of the judge […] We are optimistic that this will certainly be resolved in 2023, maybe the first half. We’ll see how it plays out from here, but I feel very good about where we are relative to the law and the facts,” he remarked.

As reported by The Crypto Basic, in Davos Ripple CEO Said that People Will Be Stunned at the SEC’s Behavior When Hinman’s Emails “Come to Light.”