Ripple News: What’s Next for Ripple After Emerging Victorious? Experts Suggest Lawsuit to End After a Year

The post Ripple News: What’s Next for Ripple After Emerging Victorious? Experts Suggest Lawsuit to End After a Year appeared first on Coinpedia Fintech News

The Ripple lawsuit has been going on for a while. The SEC originally sued Ripple in 2020 before the pandemic started. To sum up, the SEC accused Ripple of certain financial actions.  On episode 68 of the Public Key podcast, securities law and blockchain expert, Lewis Cohen, co-founder of DLX Law, spoke to host Ian Andrews about the Ripple lawsuit and Cohen opened up about how he thought it was ‘going to be an easy case to win’ for Ripple.

Cohen said that there’s no final decision yet. Ripple and the SEC can’t just appeal and be done because the final verdict isn’t here. He said that one should think of it like in a sports game when they pause to check a replay before continuing. He added that this is called an “interlocutory appeal.”

According to him, it’s like saying, “Hold on, let’s figure out what’s happening before we go on, because it really matters.” For this kind of appeal to happen, both the trial judge (Judge Torres) and the appeals court (the second circuit, in this case) have to agree.

He said that the SEC could ask for an appeal, and if they do, both Judge Torres and the second circuit would have to agree that it’s important enough to pause and sort out. Then, the trial would stop temporarily and the appeal process would begin. But if they don’t ask, or if either of the courts says “No,” then the trial just keeps going. And there’s one more thing to consider – they could also choose to settle with the two defendants.

When an agreement is reached, all the problems are solved, and a trial isn’t needed anymore. This leads to a final decision. If Ripple or the SEC doesn’t like the result, they can appeal. Ripple could appeal if they lost, and the SEC could too. Both sides can decide to appeal if they want to.

He concluded, “So then in either way, the earliest I think anybody could see this getting resolved is probably about a year from now. And it could even be longer, depending on the trial and every which other thing. So it’s going to be a while any way you slice it.”