Ripple’s Legal Journey: Impactful July Decisions Ahead

Ripple Advances with $1.4B Stock Buyback Amid IPO Delays

In July, Yassin Mobarak, founder of Dizer Capital, underscores the pivotal nature of this month for Ripple and XRP. Highlighting significant legal rulings in recent years, Mobarak points out Judge Sarah Netburn’s critique of the SEC’s stance on William Hinman’s emails in July 2022. Last year, in July 2023, Judge Analisa Torres issued a crucial summary judgment.

Mobarak notes that the 2023 decision granted Ripple partial victory, affirming XRP’s legal status but finding the company in violation of securities laws for institutional sales. He humorously recalls being on vacation during both rulings, hinting at a curious coincidence.

Related article: Ripple’s Legal Battle Sees SEC Drop $2Billion Demand 

With July here again and another vacation planned, Mobarak hints at potential new rulings in the ongoing SEC v. Ripple case. He encourages optimism among XRP supporters, suggesting a possible alignment with past rulings’ timing.

Currently, both Ripple and the SEC await the final court judgment, having concluded their remedies briefs in May. The SEC proposed a substantial fine, countered by Ripple’s argument for a lesser penalty supported by recent legal precedents.

An obstacle to the final verdict remains the court’s decision on Ripple’s motion concerning SEC witness Andrea Fox. Ripple seeks to exclude Fox’s declaration, arguing procedural oversight by the SEC in deposition preparation.

Expectations and Speculations

Ripple’s CEO, Brad Garlinghouse, anticipates a verdict by summer’s end, emphasizing confidence in Judge Torres’ timeline. Meanwhile, community members like Ashley Prosper identify Fox’s declaration as the sole remaining hurdle.

Related article: Ripple v SEC: Can They Reach a Settlement This Summer?

The court’s pending rulings on Fox’s status and final judgment timeline are eagerly awaited. Whether these decisions will coincide or be scheduled separately remains uncertain.

By integrating these subheadings and maintaining an active voice throughout, the article encapsulates the ongoing legal saga surrounding Ripple and XRP, underscoring the anticipation and complexities involved in this significant cryptocurrency case.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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