As the deadline for filings in the Ripple vs SEC case approaches on August 15, interest and anticipation are growing within the cryptocurrency community. Former SEC attorney Marc Fagel has commented on the importance of this date.
Significance of the August 15 Deadline
Marc Fagel noted that August 15 is not a final date, but merely a filing deadline. Judge Analisa Torres has the authority to rule at any time, regardless of that deadline.
Regulatory Actions in the U.S. and Canada
Fagel clarified that in contrast to the slow decisions in the U.S., Canadian authorities have already approved two XRP ETFs. These actions led to an increase in XRP's price by 8.69%, but the market later faced withdrawals due to adverse macroeconomic factors.
Impact of Court Decision on Cryptocurrency Market
Additionally, Ripple's fate has broader implications for the digital asset industry. A favorable ruling could attract institutional investments and improve Ripple's position towards a public listing.
Marc Fagel's position emphasizes that although August 15 is significant for procedural purposes, a final ruling may be delivered later. The court retains the right to make a decision at any time.
