- Crypto attorney John Deaton predicts that the SEC’s interlocutory appeal in its case against Ripple will be denied by Judge Analisa Torres.
- Deaton asserts that if the SEC’s interlocutory appeal is denied, the regulator will have to wait until late 2024 for a full appeal, stretching the timeline of the case further.
Deaton’s Deductive Projections on SEC’s Ripple Strategy
In a recent appearance at the onXDC Live blockchain industry conference, esteemed crypto attorney John Deaton offered his forecast regarding the Securities and Exchange Commission’s (SEC) motion for an interlocutory appeal in its ongoing lawsuit against Ripple. Deaton, a well-known figure in the crypto-legal landscape, prognosticated that Judge Analisa Torres, who presides over the case, would likely reject the SEC’s appeal motion.
What’s an Interlocutory Appeal?
In legal parlance, an interlocutory appeal refers to an appeal of a court decision made before the final resolution of a case. This is generally pursued when a decision on a substantial issue could potentially expedite the case or lead to its conclusion. However, such appeals are not a matter of right but of judicial discretion.
Clarity Amidst Confusion
Since Judge Torres permitted the SEC to file a motion for an interlocutory appeal, misconceptions have burgeoned, with many assuming that the SEC has already initiated an appeal process. Deaton, aiming to dispel these myths, clarified that no formal appeal exists at present.
“All the judge did was allow them to write a motion for an interlocutory appeal,”
emphasized Deaton.
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Ripple’s Anticipated Response
Ripple has until September 1 to file its rejoinder to the SEC’s motion. It is widely expected within the crypto-legal community that Ripple will oppose the motion, given their initial request for Judge Torres to deny it. Following Ripple’s response, the SEC will have a one-week window to address the issues raised.
The Underpinning Rationale for Deaton’s Prediction
According to Deaton, Judge Torres is likely to dismiss the SEC’s interlocutory appeal to solidify the foundation of her prior ruling dated July 13. He asserted that the judge’s permission for the SEC to file the motion serves as an opportunity for her to elucidate why her earlier decision stands on solid legal and evidential grounds. In turn, this would necessitate the SEC to wait until late 2024 for a full appeal, if the interlocutory appeal is indeed denied.
In the intricate legal ballet between Ripple and the SEC, Deaton’s forecast offers a compelling lens through which to assess the potential dynamics and implications for the blockchain industry at large.
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