The SEC vs. Ripple legal battle has been ongoing for several years, with investors and enthusiasts eagerly awaiting a resolution. The recent exclusion of SEC witness Patrick Doody’s evidence based on the Daubert decision has raised hopes that the case may finally be nearing its end.
The Daubert decision sets standards for the admissibility of scientific and expert testimony in court. In the SEC’s case against Ripple, the exclusion of Doody’s testimony occurred on March 6, and based on previous experience with this judge, lawyer John E. Deaton has suggested that the case may be resolved by May 6. While Deaton emphasizes that this is not an exact date, it offers investors and enthusiasts some insight into when they may expect a resolution.
Ripple CEO Brad Garlinghouse had previously stated that he expected the case to be resolved in the first half of 2023. However, unexpected delays are always a possibility in any legal case, and it is important to keep this in mind when considering the potential end date.
Despite the prolonged legal battle, Ripple has continued to make progress and partnerships within the cryptocurrency industry. The company’s XRP cryptocurrency has recently been added to several high-profile exchanges, including Coinbase and Kraken. Ripple has also partnered with major financial institutions, including MoneyGram and Santander, for the development of cross-border payment solutions using XRP.
As the case nears its potential end date, many are eager to see how it will impact Ripple and the broader cryptocurrency industry. A favorable ruling for Ripple could have a significant impact on the regulation of cryptocurrencies and the wider adoption of blockchain technology in the financial sector. However, a negative ruling could have equally far-reaching consequences, including increased regulatory scrutiny and a decline in investor confidence in the cryptocurrency market.