The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may conclude on August 15. This moment is anticipated by the XRP community, which has been monitoring the situation since 2020.
The Ripple and SEC Situation
Since the case began in 2020, the XRP community has accumulated many questions regarding Ripple's legal strategy and whether the company has left its counterclaims unanswered. One user even directly asked CEO Brad Garlinghouse why the dismissal process hasn’t yet been finalized.
Insights from a Former SEC Official
Former SEC attorney Marc Fagel explained that neither side has officially withdrawn its appeal. He noted that the next step depends on the SEC's internal process. The agency first needs to vote to drop its appeal before any documents can be filed. Only after this internal approval can both SEC and Ripple submit formal notices to the court, which will be publicly available.
Next Steps in the Case
If the SEC moves to formally drop its appeal in the coming days, Ripple is expected to follow suit quickly. Once both notices are filed, the case will officially close. While the SEC may choose to remain silent publicly, those filings will confirm that one of the most closely watched legal disputes in crypto history has finally been settled.
The anticipated conclusion of the Ripple and SEC case holds significant implications for the XRP token community. The resolution of legal strategy questions and the $125 million penalty can impact the company's and its token's future.
