The Ripple vs SEC case continues to generate discussion online. We clarify the situation regarding the current events and statements from both parties.
History of the Legal Dispute
Ripple and the SEC have been engaged in a legal battle that has drawn the attention of the entire cryptocurrency community. While Ripple has decided to drop its cross-appeal, the SEC's appeal has not been officially dismissed. Former SEC lawyer Marc Fagel clarified that both parties need to file formal paperwork to conclude the appeal process.
Statements from the Parties
According to Fagel, the SEC had previously agreed to dismiss its appeal as part of a prior settlement plan, but that plan was contingent on the court vacating an injunction, which did not occur. He stated that there’s no reason for the SEC not to proceed with dropping the appeal.
Future of the Case
Once the SEC completes its internal voting process, both parties will jointly file papers to officially end the appeals. At that point, the district court’s judgment will take effect, concluding this long legal chapter. Despite the appeals process technically remaining open, it is expected to close in the coming weeks.
The situation between Ripple and the SEC continues to evolve, but the upcoming steps from both parties may bring the conclusion of this legal dispute closer. The public awaits the official documents that will confirm the end of the appeals process.
