Despite the anticipation surrounding Ripple’s case against the SEC, it is crucial to remain patient and have faith in the legal process. The decision will have a monumental effect on the digital asset space, with Ripple’s continued efforts, partnerships, and potential integration into banking systems.
In a new Digital Outlook video with David, the host discussed the lingering question: Why is the Ripple vs. SEC case taking so long to resolve? He pointed out several reasons and gave logical reasoning as to why the case is delayed.
Long legal proceedings:
He said that over the past two and a half years, many claims and counterclaims have been filed, leading to a complex legal process. Lawsuits involve various factors, such as dispositions, demands, subpoenas, and responses, which can significantly lengthen the time.
Scale and impact of the case:
The Ripple case against the SEC is very important for the digital asset space. Judge Analisa Torres is aware of the big impact her decision will have. It is important to consider the history of the Howey test from the 1940s when deciding whether a digital asset is a security. Judges take their time reviewing precedents, drafting explanations, and aiming for strong justifications that can withstand appeals.
Other cases on the role of Judge Torres:
It is important to note that the Ripple case is not the only one Justice Torres is presiding over. It also deals with criminal cases, which have priority over civil cases. This further contributes to the length of time it takes for a judgment to be rendered.
It is expected that a decision in the Ripple vs. SEC case could be made around September 9, according to legal analyst John Deaton. This estimate corresponds to the delay generally observed after the judge has ruled on the double motions.