After the presiding judge in the legal battle between Ripple and the United States Securities and Exchange Commission (SEC) ruled on both parties’ motions to preclude certain experts’ testimony, pro-Ripple lawyers believe that the decision could prove disastrous for the regulator’s summary judgment motion.
As it happens, Scott Chamberlain, a former attorney and co-founder of the permissionless Layer 2 platform Evernode XRPL, shared his key takeaways on District Judge Analisa Torres’s ruling, in which he singled out the exclusion of one specific witness as “fatal to SEC,” on March 7.
His views were echoed by the legal expert and amicus curiae for Ripple, John E. Deaton, who agreed with Chamberlain’s analysis and expressed his opinion that “the expert’s preclusion is fatal for the SEC’s summary judgment motion,” which he later told Fox Business’ Charles Gasparino could arrive “any day now or in a couple of weeks.”
Stay in the know on crypto by frequently visiting Crypto News Today
Problem with expert witness
As Deaton pointed out in the interview on March 8, Ripple had ten expert witnesses, while the SEC had five, challenged by both sides respectively, and the victory for the blockchain company was the exclusion of the witness “who was going to testify as to what XRP token holders thought in their heads when they purchased XRP.
Meanwhile, he remains a strong believer that Ripple would win the case. His words arrive days after the blockchain company’s CEO Brad Garlinghouse once again questioned the SEC’s conduct, terming its recent onslaught against the crypto industry as an unhealthy way to regulate it.
Read More at FINBOLD
Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.
Member of Global Meta Media Consortium℠ – www.g2mc.world