Ripple Labs may be on the brink of concluding its years-long courtroom battle with the U.S. Securities and Exchange Commission (SEC). Legal expert Fred Rispoli believes the recent Supplemental Letter filed by Ripple could trigger the next phase of the case.
Rispoli Reacts to Ripple’s Supplemental Letter
Rispoli commented on Ripple's filing, noting that while it is relatively brief, it addresses crucial issues that could impact the outcome of the case. He stated, 'At 1.5 pages, this is not the strongest attempt—but it’s an attempt.' Key topics in the letter include the role of the appellate court and Ripple's unique situation compared to other crypto firms targeted by the SEC.
Optimism Builds as Timeline Narrows
Despite his reservations, Rispoli expressed increased optimism, suggesting that the move could lead to a ruling from Judge Torres, signaling progress towards resolving the legal standoff. He warned that the August 15 date, often misinterpreted as a ruling deadline, merely represents a reporting checkpoint.
What Happens After a Favorable Ruling?
Rispoli explained that a positive ruling from Judge Torres would not end the lawsuit outright but could rapidly normalize the situation. He described the process where the appellate court must remand the case back to Judge Torres to formalize the ruling before both parties can request a complete dismissal of the case.
If the court rules in Ripple's favor within the expected timeframe, it could mark a significant milestone not only for the company but also for the broader crypto industry closely monitoring the developments.
