Ripple vs. SEC: Unraveling the Speculation Around the Case’s Conclusion
The Ripple vs. SEC legal battle has kept the crypto community on edge, with recent speculations suggesting a potential resolution today. However, a former SEC lawyer has poured cold water on these hopes, indicating that a swift conclusion is highly unlikely.
The Ripple-SEC Speculation
Recent rumors circulating on social media platforms like X (formerly Twitter) have hinted at the imminent closure of the long-standing Ripple vs. SEC case. Reports suggested that both Ripple and the SEC were gearing up to withdraw their appeals, signaling a possible end to the legal feud. However, former SEC lawyer Marc Fagel has stepped forward to provide clarity on the situation.
Expert Insights from Marc Fagel
According to Fagel, the likelihood of the Ripple case concluding today is slim. He pointed out that neither party has formally retracted their appeal at this stage. Additionally, the SEC typically undergoes a lengthy internal process before reaching decisions on enforcement matters, making a same-day resolution improbable.
Fagel emphasized the rarity of such expeditious closures, debunking claims suggesting an immediate end to the case. Until both Ripple and the SEC officially abandon their appeals, the initial ruling against Ripple by Judge Analisa Torres remains in limbo. Despite Ripple CEO Brad Garlinghouse hinting at appeal withdrawal, no official documentation has been submitted as of yet.
SEC’s Closed-Door Meeting
Adding to the intrigue, the SEC recently conducted a closed-door meeting on July 3rd, fueling hopes of a swift resolution announcement. However, Fagel clarified that such meetings are routine and that integrating enforcement matters into the SEC’s agenda can be a time-consuming process.
What Lies Ahead for Ripple and XRP?
While expectations are high for both parties to drop their appeals, the process is likely to unfold gradually. In the fast-paced world of crypto, governmental proceedings, as Fagel highlighted, often progress at a sluggish pace. As the community eagerly anticipates the case’s closure, XRP holders are advised to exercise patience, as the final chapter of this protracted legal saga inches closer.
