XRP Lawsuit: Court Backs Ripple CEO Brad Garlinghouse

In a major development in the ongoing lawsuit against Ripple Labs Inc. Judge Phyllis Hamilton ruled for Ripple Labs, XRP II LLC and CEO Brad Garlinghouse. This ruling marks a new step for Ripple in the long-running legal battle over the regulation of XRP.

The court’s decision for Ripple and Garlinghouse

The court granted the defendants’ request for final judgment and a stay of class actions filed by the plaintiff. This decision came after a joint motion from both parties.

The decision supports Ripple and Garlinghouse in their defense against allegations of unregistered securities sales and alleged violations of California securities laws, including allegations of Garlinghouse’s personal liability as a controller.

Ripple had previously pushed for judgment and a stay on the remaining claims at the state level until the class actions were settled. In addition, the court urged both parties to seek alternative solutions for individual claims in the case.

Trial date set for January 2025

The court has set January 21 of next year as the date of the case. Pretrial dates are temporarily suspended and will not be rescheduled until any appeals or motions related to class actions are resolved.

These developments represent a positive outcome for Ripplewhich is preparing for the next stages of the legal proceedings.

Strengthening Ripple’s position

Ripple’s legal team and supporters are closely following the wider debate about XRP regulation. This debate has gained new momentum after Donald Trump’s recent promise to implement clear crypto regulation and the SEC chairman Gary Gensler replace it.

Trump’s promise has led to speculation that the Ripple vs. The SEC case could undergo major changes. The SEC has been increasingly criticized for its approach to regulating digital assets. In a separate case, the SEC is accusing Ripple and its executives of offering unregistered securities. However, the regulator has received a lot of criticism for its appeal against the ruling of judge Analisa Torres, who previously ruled for Ripple.

American Security Association (ASA) President Chris Iacovella has even publicly called for Gensler’s resignation, highlighting the general frustration in the industry.

Ripple’s CTO, David Schwartz, expressed optimism about the progress of the case and emphasized that Ripple’s arguments have received strong legal support. Attorney Fred Rispoli, who has been following the case closely, said the SEC’s withdrawal of the case seems “unrealistic” but is a practical and likely outcome. ‘ in arrangement.

Possible consequences for XRP and the crypto market

The latest court decision has an impact not only on Ripple, but also on the crypto sector in general. With the next hearing scheduled for early next year, Ripple has time to further develop its legal strategy.

If Judge Hamilton’s decision stands without a major legal challenge, the class action case could soon be closed. This would provide clarity for XRP investors and represent a step forward for the XRP market situation.

In addition, it is expected that a new government approach under Trump could contribute to a faster resolution of the issue, perhaps more favorable rules for Ripple and the entire crypto market. This is fueling hopes within the XRP community that the legal battle can be settled in Ripple’s favor.

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