Ripple: The U.S. SEC faces setbacks in the lawsuit against XRP, hoping for a summary judgment by the end of the year

ChainCatcher news, Ripple stated that the U.S. SEC recently faced a setback in its lawsuit against the payment company, which previously accused XRP of being an unregistered security.

Ripple mentioned in its Q1 2023 XRP market report that in an opinion issued last month by the presiding judge of the lawsuit, Analisa Torres, some expert testimonies from the SEC were excluded from the court record.

The report stated: "On March 6, the court issued a 57-page opinion determining which opinions from the SEC and Ripple experts could be considered in the summary judgment (and, if necessary, at trial), and which opinions needed to be 'dismissed.' Specifically, the SEC expert testimony regarding 'reasonable expectations of XRP buyers' was removed from the record, as well as the expert testimony attempting to determine what 'caused' changes in XRP prices."

Regarding when the summary judgment might be issued, the payment company stated: "Ripple hopes for a decision on the summary judgment in 2023, although the timing ultimately depends on the court."

Last month, Ripple's General Counsel Stuart Alderoty, while retaining Ripple's testimony in response to the rejection of SEC expert testimony, stated that Judge Torres's opinion has bolstered confidence in the case. (source link)