Ripple SEC Case: Why a Quick Settlement May Be Unlikely

As the US SEC gears up for its first meeting under acting chair Mark Uyeda, there are growing speculations in the crypto community about an imminent Ripple SEC case settlement. 

However, in a recent X post, former securities lawyer Marc Fagel dismissed the settlement rumors, warning that those expecting a quick resolution will likely be let down. Notably, according to the former SEC attorney, the Ripple SEC case settlement is likely to happen after Paul Atkin’s appointment as the SEC Chair. 

Earlier, FOX Business journalist Eleanor Terrett had shared that the SEC will hold its first closed meeting since MarkUyeda took over as acting chair on Thursday. To this Marc Fagel responded that this is the same meeting they hold nearly every week. They will vote on recommendations calendared weeks ago. “Those expecting something monumental to happen are about to be disappointed,” he noted.

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Mark Uyeda’s first meeting as SEC chair will take place next week. The upcoming SEC meeting will handle discussions on three specific areas including stopping illegal activities and handling administrative actions alongside court decisions.

Ripple’s legal counsel remains uncertain about when the SEC lawsuit will be resolved. Despite optimism from XRP supporters, former SEC lawyer Marc Fagel predicts that a settlement could take up to 10 months, highlighting the unpredictable nature of the legal proceedings and the challenges in reaching a resolution.