After the presiding judge in the <a href="https://finbold.com/ripple-v-sec-court-case-update-as-of-march-5-2023/" rel="noopener noreferrer nofollow">legal battle</a> between <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a> and the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) ruled on both parties’ motions to preclude certain experts’ testimony, pro-Ripple lawyers believe that the decision could prove disastrous for the <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulator’s</a> summary judgment motion.As it happens, Scott Chamberlain, a former attorney and co-founder of the permissionless Layer 2 platform Evernode XRPL, <a href="https://twitter.com/scotty2ten/status/1633225437529903105" rel="noopener noreferrer nofollow">shared</a> 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.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/94500e8ed135405aa2876e664ff0edde.png" />His views were echoed by the legal expert and amicus curiae for Ripple, John E. Deaton, who <a href="https://twitter.com/JohnEDeaton1/status/1633226757917515781" rel="noopener noreferrer nofollow">agreed</a> 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 <a href="https://video.foxbusiness.com/v/6322102630112#sp&#61;show-clips" rel="noopener noreferrer nofollow">told</a> Fox Business’ Charles Gasparino could arrive “any day now or in a couple of weeks.”<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/db3edd6f7d484c85aeb00199ce1c217b.png" /><h2 id="header-0">Problem with expert witness</h2>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 <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company was the exclusion of the witness “who was going to testify as to what <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">XRP token</a> holders thought in their heads when they purchased <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a>.<blockquote>“Of course, he never interviewed a single XRP holder in his entire career, and he received a $3 million contract from – guess who – the SEC to serve as a witness. So the judge excluded that part of his testimony.“</blockquote>Meanwhile, he <a href="https://finbold.com/ripple-v-sec-case-legal-expert-john-deaton-has-no-doubt-ripple-will-win/" rel="noopener noreferrer nofollow">remains</a> 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, <a href="https://finbold.com/ripple-ceo-publicly-labels-sec-onslaught-not-healthy-in-new-court-case-update/" rel="noopener noreferrer nofollow">terming</a> its recent onslaught against the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto industry</a> as an unhealthy way to regulate it.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">Finbold.com</a>.

Ripple scores major win against SEC with ‘fatal’ exclusion of expert testimony

目錄

Finbold

在 2023年3月8日發表的其他文章

Esports Organization TSM Signs On With Avalanche For New Gaming Subnet

ChatGPT: The Best Artificial Intelligence So Far and the Capabilities Predictions

First Mover Asia: Bitcoin, Ether Bounce Back After Being Tested by Fed Chair Powell’s Comments

DeHeroGame Launch Countdown: Get Your $AMG Ready

LendeXe Integrates Chainlink Price Feeds for Enhanced Security and Performance in DeFi Operations

What Is Cosmos Blockchain?

訂閱免費電子報，每天收取加密貨幣最新動態！