Ripple v. SEC: Some Timelines May Arrive Sooner, Here's What to Know

Nov 30,2022
Ripple v. SEC: Some Timelines May Arrive Sooner, Here's What to Know

James K. Filan, a criminal defense lawyer and former federal prosecutor, believes that some of the ongoing Ripple disputes may be earlier. In his opinion, the time of possible change is related to the submission date of the revised reply information to the simple judgment.

According to the order of events, it is estimated that each other will submit their replies to the motion for simple judgment before November 30. This reply will be submitted with the official seal within the page limit of 55 pages, and will also include the reply to the introduction of "Friends of Court".

Then, it is estimated that the two sides will meet on December 2 and jointly agree on the revision of the response introduction. Since then, according to the original timetable approved by the People's Court, the revised version number of the response will be announced on December 5.

James K. Filan felt that because the motion to start a simple judgment had to be submitted earlier than the deadline of September 17, rather than September 19, the revised reply might have been submitted earlier.

Similarly, Phelan stressed that a series of negative opinions on the simple judgment motion should be put forward on September 21, rather than the deadline of September 24. He assumed that a revised response to the simple judgement motion might be submitted by Friday, 2 December.

Although people's expectations for rapid prosecution are getting higher and higher, James K. Filan predicted and analyzed earlier that the regional chief judge Shevchenko would make a ruling on the authoritative expert motion and simple judgment motion on or before March 31, 2023.

Brad Garlinghouse, Ripple CEO, once hinted that an agreement could be reached if XRP was deemed unsafe.

According to him, if a briefing is held before November, the prosecution may be resolved in the next two to three months. However, he does not rule out that it may take a long time. He expects to reach a solution in the first half of 2023.