With the beginning of July, the crypto community is abuzz with rumors about the SEC possibly announcing the end of its lawsuit against Ripple Labs. We will explore how grounded these claims are.
Where Did the Claim Come From?
Speculation began to grow on social media and crypto forums, especially after the SEC scheduled a closed-door meeting on July 10. XRP enthusiasts and supporters have been amplifying these rumors, suggesting that a final SEC announcement could come during Crypto Week.
Fact Check: Is an SEC Announcement During Crypto Week Possible?
Despite the growing speculation and excitement, former SEC lawyer Marc Fagel stated that the idea of a sudden announcement is not realistic. "A settlement or ruling usually takes a month or two for a vote on an enforcement recommendation," he confirmed. Fagel also indicated that Judge Analisa Torres currently has no jurisdiction over the case, as there are no pending motions before her.
Key Evidence Table: Coinpedia’s Fact Check
According to Coinpedia's analysis, the key claims regarding the SEC and Ripple have been scrutinized. Objective data indicates there is no official confirmation of SEC initiatives, and the process requires time.
In conclusion, the claim that the SEC will announce the end of the Ripple case during Crypto Week has been deemed false. The necessary processes, such as internal voting, take time and cannot be completed in a matter of days.
