The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken a new turn, focusing on legal procedures rather than cryptocurrency prices.
Discussion of Case Closure
Recently, reports surfaced claiming that the SEC v. Ripple case was officially over after both parties filed a joint dismissal of the appeal. However, many in the crypto community dismissed these claims as premature, leading to active discussions on social media.
Judge's Role in the Process
Crypto analyst Zach Rector noted that under federal appellate court rules, an agreement between both parties to dismiss an appeal does not always require a judge's sign-off. He referred to Federal Rule of Appellate Procedure (FRAP) 42(b), which allows the circuit clerk to close a case if both parties sign an agreement and pay required court fees.
Key Takeaways
Legal experts clarified that if the dismissal agreement includes additional conditions, such as approving a settlement, reducing penalties, or vacating a lower court’s decision, a judge’s order is indeed required. Former SEC lawyer Marc Fagel confirmed that Ripple's penalty of $125 million remains in place.
Thus, if both parties agreed to drop the appeal without additional conditions, the case is concluded at the appellate level without a judge’s signature. However, the original penalty remains unchanged.
