Ripple General Counsel Says Judge Could Release Ruling By March End

Stuart Alderoty has again expressed the readiness of Ripple to go the distance in the fight against the SEC.

Ripple General Counsel Stuart Alderoty has suggested that the judge’s ruling in the United States Securities and Exchange Commission (SEC) case against Ripple could come as soon as the end of this month.

The lawyer made this known in a Blockworks interview on Thursday. It aligns with an earlier prediction by Attorney James K. Filan, a seasoned attorney who followed the case closely. Notably, more generous estimates from Ripple executives have placed the arrival of the ruling within the year’s first half.

As highlighted by Alderoty in the interview, the summary judgment could go in three ways. For one, the judge could send the case to trial citing unresolved facts, an outcome that CryptoLaw founder Attorney John E. Deaton has described as probable in recent months.

Alternatively, Judge Analisa Torres could rule in favor of the SEC’s summary judgment motion, in which case Alderoty asserted that Ripple would appeal, taking it from the appeal court to the U.S. Supreme Court if necessary. As he has previously alluded to, he is confident of a positive outcome for the blockchain payments company in the Supreme Court. Alderoty explained this is because the apex court currently has a conservative majority opposed to big government. Recall that Deaton supported this sentiment by citing West Virginia v. Environmental Protection Agency.

Lastly, the court could side with Ripple. In this instance, the firm could finally expand its business in the U.S., Alderoty said.

“We [would] have this incredible business opportunity in the U.S. that is evergreen for us,” the Ripple lawyer said. 

Fox journalist Terrett highlights Alderoty interview:

“A summary judgment is expected any day; Alderoty said maybe as soon as the end of this month.”

“A summary judgment is expected any day; Alderoty said maybe as soon as the end of this month.”

Nice interview @caseywagnerr and @s_alderoty! https://t.co/wLDlgE2zGy

— Eleanor Terrett (@EleanorTerrett) March 2, 2023

Notably, the attorney admonished crypto startups to build outside the U.S.

“Go to a jurisdiction where the rules are clear, not light-touch, but clear,” Alderoty urged.

Without a clear crypto regulatory framework, U.S. regulators, particularly the SEC, have resorted to enforcement actions to exert jurisdiction of the nascent market, stretching decades-old laws made for the traditional financial system. The SEC case against Ripple and its executives over whether XRP is a security has spanned over two years.