SEC Faces Tight Deadline in Ripple XRP Lawsuit

The SEC has not yet withdrawn its appeal in the Ripple case.

Quick overview

  • The SEC's lawsuit against Ripple remains a focal point for the cryptocurrency community, with hopes for a resolution in the XRP case.
  • District Judge Analisa Torres rejected the SEC's proposed settlement with Ripple, leading to further delays and uncertainty.
  • Legal expert Bill Morgan noted that the SEC has not withdrawn its appeal and has until August 15, 2025, to take action.
  • Despite the legal challenges, XRP's popularity is rising due to increased institutional interest and its potential role as a bridge currency.

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The Securities and Exchange Commission’s (SEC) lawsuit against Ripple continues to attract much attention from the cryptocurrency community, which hopes that the lengthy XRP case will be resolved. The SEC has not taken similar action, despite Ripple’s decision to withdraw its appeal.

District Judge Analisa Torres rejected the agency’s proposed settlement with Ripple, resulting in further delays and ongoing uncertainty regarding the case’s resolution.

Legal expert Bill Morgan discussed the situation and stated, “The SEC has not yet withdrawn its appeal in the Ripple case.”

The SEC has no deadline to revoke the appeal, he clarified. Although it could simply ask for more time, the SEC has until August 15, 2025, to report to the appeals court if it chooses to take action.

We should hear something about that in the next two weeks. The core issue in the SEC v. Ripple case, filed in December 2020, was whether Ripple’s sales of XRP qualified as unregistered securities.

According to a significant 2023 decision by Judge Torres, programmatic exchange sales of XRP were not securities, but institutional sales were.

Judge Torres rejected the settlement that the SEC and Ripple had agreed upon to reduce the fine and lift the injunction. Despite the ongoing legal drama, XRP’s recent surge in popularity can be attributed to several factors. Institutional interest has increased due to the court ruling, which provided partial regulatory clarity, making XRP a more attractive asset for businesses. Its role as a fast and affordable bridge currency for international payments continues to draw the attention of financial institutions and treasuries. Furthermore, the growing possibility of an XRP spot ETF encourages some companies to include XRP in their treasury assets, paving the way for broader mainstream adoption.

ABOUT THE AUTHOR See More
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.

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