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HomeCrypto NewsMarketCoinbase Lawsuit May Move Faster Than SEC v. Ripple 

Coinbase Lawsuit May Move Faster Than SEC v. Ripple 


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A pseudonymous lawyer explains how Coinbase vs. SEC lawsuit will move faster than the regulator’s case against Ripple.

In a recent tweet, pseudonymous lawyer MetaLawMan asserts that the recently-filed Coinbase v. SEC lawsuit will move faster than the Ripple case.

According to the attorney, the Coinbase lawsuit will not linger like the Ripple case because it was filed in the Appellate Court, not a trial court.

Consequently, the Coinbase v SEC case will move faster because it excludes most of the trial court’s proceedings, especially the discovery stage, including depositions and document exchanges.

For context, the discovery stage of a lawsuit is the formal process of exchanging information between the parties about the witnesses and evidence they will present at trial.

The MetaLawman said the Coinbase v. SEC lawsuit will only involve “briefing and a hearing.” 

SEC v. Ripple Lawsuit

Recall that TheCryptoBasic reported earlier that the leading San Francisco-based exchange sued the SEC to compel the SEC to respond to its petition for rulemaking specific to digital assets.

It bears mentioning that the SEC v. Ripple lawsuit is in a trial court. On December 21, 2020, the SEC charged Ripple and two of its executives- Bradley Garlinghouse and Chris Larsen- with offering unregistered securities in the form of XRP and raising $1.3 billion.

On March 3, 2021, Ripple and its executives officially responded to the SEC allegations by arguing that the regulator did not give fair notice that XRP violated securities laws.

The lawsuit has lingered for over two years, with cryptocurrency community members eagerly anticipating a ruling from Judge Analisa Torres.

Although the lawsuit is expected to end anytime soon, no one knows the exact date this will happen. Top Ripple execs like Garlinghouse believe Judge Torres will rule on the case within the first half of 2023.

Meanwhile, CryptoLaw founder attorney John Deaton, who believes Coinbase will have a fair notice defense than Ripple, speculates that the Judge’s ruling might come on or before May 6.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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