A lot of people are speculating on why @Ripple would file this now. Some people are saying its b/c Ripple knows it will lose or b/c they’re less confident. It’s a very simple reason why it was filed. The decision is from the Supreme Court and it was handed down only 4 days ago.
https://twitter.com/cryptolawus/status/1631692983253843969
Judge Torres could possibly file her decision at any moment (or it could be 2 months longer). The point is: this isn’t a decision from a federal district court or even an appellate circuit court. This is a U.S. Supreme Court decision decided on February 28, 2023 - 4 days ago.
The Supreme Court’s decision is relevant regarding one of Ripple’s Affirmative Defenses: The Lack of Fair Notice violates the Due Process clause of the U.S. Constitution.
People overthink and try to look for reasons other than the obvious one.
People overthink and try to look for reasons other than the obvious one.
Essentially, Justice Gorsuch elaborated on the requirement under the Due Process Clause for the government to provide fair notice of what is prohibited.
“As in Bittner, the government’s prior guidance appears to contradict its present litigating position. And as in Bittner, many experienced securities law practitioners and industry participants were unable to anticipate the government’s current theory.”
That’s the reason it was filed so late. If Judge Torres finds that Ripple offered and sold #XRP as a security, this Supreme Court decision gives Ripple’s fair notice argument a few more teeth.
I’ve already went on record to say that I have no doubt Ripple wins before this current Supreme Court. The West Virginia 🆚 EPA case alone is reason to believe Ripple wins. This recent decision is icing on the cake.
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