The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues. Recent developments indicate that the SEC's appeal remains on hold, pending a ruling from the judge.
Appeal on Hold, Not Dropped
Contrary to some social media claims, the SEC has not officially withdrawn its appeal. Instead, both parties agreed to put the case on hold while waiting for Judge Analisa Torres' ruling. The U.S. Court of Appeals for the Second Circuit approved this pause until August 15, 2025, allowing the lower court time to deliberate.
Bill Morgan's Statement: What Must Happen Next
Australian lawyer Bill Morgan, who is actively commenting on the case, confirmed that the appeal remains active. He stated: "The appeal is still on and in abeyance. The performance of the settlement agreement between the SEC and Ripple, which will end the appeal, depends on a positive indicative ruling from Judge Torres..." This means that the proposed $50 million settlement cannot proceed without her approval.
Why the Ruling Is Critical
As Bill Morgan emphasized, everything hinges on Judge Torres. If she issues a favorable indicative ruling, the case can return to her court for both sides to finalize the settlement and request the appellate court to dismiss the appeal. However, if she declines, the process could prolong further.
The deadline for Judge Torres' decision is set for August 15. If she issues a positive ruling, Ripple and SEC will need to act swiftly to finalize the deal and close this landmark lawsuit.
