Scott Chamberlain, co-founder of XRPL’s Evernode and former lawyer, has taken to Twitter to address the concerns of XRP holders regarding the ongoing SEC v. Ripple case. With the crypto industry eagerly awaiting a resolution to the case, Chamberlain’s tweet offers some valuable insights.
Chamberlain stated that he had seen many community members complaining about Judge Torres taking a long time to decide the case. However, he pointed out that taking only a couple of months to decide such a complex case would be astonishing. In fact, he highlighted an example from his home jurisdiction where the Canberra Supreme Court took a shameful four and a half years to deliver a judgment, setting an Australian record for the longest wait time.
The ongoing case between the SEC and Ripple has far-reaching implications for the crypto industry, and at the beginning of the year, it seemed that the proceedings between the commission and the crypto company would be settled as early as 2023. However, it is already May, and the case continues to drag on.
Ripple’s CEO, Brad Garlinghouse, had previously expressed hope that the case could be over as early as the first half of the year. However, Chamberlain’s tweet highlights the fact that courts can take a long time to deliver a verdict, especially in complex cases such as this.
The case has been closely followed by the crypto community, with XRP holders hoping for a favorable outcome that could boost the value of their holdings. However, it is important to remember that legal proceedings can be lengthy and unpredictable.
Chamberlain’s tweet serves as a reminder to the crypto community that patience is key in situations such as this. While a quick resolution would be ideal, it is important to remember that complex legal cases can take time to be decided, and it is better to wait for a well-considered verdict than to rush to a decision.
