The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is approaching its final procedural phase. Both parties are expected to formally dismiss their appeals soon, marking the conclusion of this lengthy legal process.
Current Legal Proceedings
According to former SEC official Marc Fagel, the case is progressing towards resolution and is in its final administrative stages. He emphasized that neither party is delaying the process, as both sides have agreed to dismiss parts of their appeals and are working through the necessary steps to officially close the case.
*“Nobody is holding up the case. Not the judge, not the SEC (which has a standard procedure to follow),”* Fagel stated.
Judge Torres' Role
Judge Analisa Torres, who previously oversaw key rulings in the case, currently has no pending decisions. Fagel confirmed that the case is no longer under her purview. *“There is nothing pending before the judge; it's now in the hands of the parties to simply dismiss their appeals,”* he added.
History of the Case and Future Outlook
The SEC filed its lawsuit against Ripple Labs in December 2020, alleging that the company conducted an unregistered securities offering. This case quickly became one of the most closely observed legal battles in the crypto industry due to its implications for digital asset regulation in the U.S. After years of legal maneuvers, a partial ruling in 2023 stated that Ripple's programmatic sales of XRP were not considered securities offerings, while institutional sales were found to violate securities laws. Currently, both parties are moving toward formally dropping their appeals.
The final resolution of the Ripple lawsuit now hinges on the formal withdrawal of appeals by both parties. The XRP community and the broader crypto industry are closely monitoring developments, anticipating the end of one of the sector's most significant legal battles.
