Media outlets are once again discussing rumors surrounding the long-standing legal battle between Ripple and the SEC. Recent claims about closed meetings have caught attention, but lawyers have debunked these reports.
Rumors of Closed SEC Meetings
Recent social media posts claimed that the SEC held its fourth closed-door meeting to discuss Ripple's appeal. Subsequent posts suggested that these delays could affect the approval of an XRP ETF.
Explaining Delays in the Process
According to former SEC lawyer Marc Fagel, there was no such meeting. Fagel clarified that the case is currently in the hands of the Court of Appeals, not SEC commissioners. The SEC had also appealed the part of the ruling they lost, while Ripple cross-appealed the portion they disagreed with.
What Comes Next?
Fagel pointed out that the SEC must go through an internal approval process before it can officially withdraw its appeal. This situation is not unusual, as all cases follow a similar review process. For Ripple and XRP holders, this waiting period may be frustrating, but it's simply part of the legal process.
Thus, the delays in the Ripple case are standard practices within legal proceedings. Once both parties withdraw their appeals, the judge's ruling will become final and may lead to positive changes in the future.
