The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is entering a decisive phase. Legal expert Bill Morgan believes that Judge Analisa Torres is likely to issue a ruling before August 15, potentially determining the fate of a joint application submitted by both parties.
Key Points and Details of the Case
Ripple and the SEC have filed a joint request in the Southern District Court of New York to lift a previously imposed injunction on XRP sales. This request follows a similar one that was denied on May 8 due to procedural shortcomings.
Judge Torres' Role in the Proceedings
Morgan noted that a delayed ruling could prompt the appeals court to resume the halted appeal process, undermining months of negotiations. He emphasized the importance of Judge Torres issuing an 'indicative ruling' quickly, which would pave the way for a 'limited remand'—a crucial step toward finalizing the $50 million penalty reduction and lifting of injunctions.
Potential Consequences of the Ruling
If Judge Torres approves the motion, the next steps could include official dismissal of both appeal and cross-appeal actions, bringing an end to the years-long dispute that has deeply impacted XRP’s regulatory standing.
A favorable ruling by Judge Torres could mark a major milestone in crypto regulation, possibly providing XRP with long-awaited legal clarity and boosting investor confidence.
