The US Securities and Exchange Commission (SEC) is set to file its first brief in the Ripple lawsuit by January 15, 2025, following the court's ruling that XRP is not a security.
Current Situation with Ripple and the SEC
The SEC is appealing several aspects of the court's decision, including the classification of XRP sales conducted by Ripple on crypto exchanges and personal XRP sales by company executives Brad Garlinghouse and Chris Larsen.
SEC's Arguments and Stance
The SEC continues to insist that these transactions should be treated as unregistered securities offerings under the Securities Act of 1933.
Settlement Potential and Ripple's Future
Lawyers suggest a settlement may be coming soon, although Ripple has continued adjusting its business in line with Judge Torres’ decision, recently updating its XRP On-Demand Liquidity (ODL) transactions.
Despite the ongoing legal battle, Ripple’s future in the U.S. looks brighter thanks to new agreements and increased job presence in the country.
