The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may finally be approaching a turning point. While rumors are swirling that the SEC might dismiss the case today, experts advised not to jump to conclusions just yet.
Both Ripple and the SEC are currently in a legal holding pattern. The case is being held in abeyance (on pause) by the Second Circuit Court of Appeals, while everyone waits to see what the SEC will decide next. The court has asked the SEC to file a status update by August 15, 2025. Until then, nothing is officially resolved.
The speculation heated up after reports emerged that the SEC is holding a closed-door meeting today. This has led some XRP supporters to believe that the SEC might announce the case dismissal now.
According to former SEC attorney Marc Fagel, there is no solid reason to believe the Ripple case will be dismissed today. He explained that although the injunction (a legal order that prevents Ripple from doing certain things) has already been dealt with, neither side has dismissed their appeal yet.
In fact, Fagel said that if the SEC does decide to drop the case, it will happen only after the agency’s commissioners vote to approve the dismissal. Once that happens, the financial penalty Ripple agreed to, which is currently being held in escrow at their lawyer’s bank, will be transferred to the U.S. Treasury.
The August 15 deadline is the next key date in the case. That’s when the SEC must either:
While there are a lot of rumors flying around, nothing has been finalized yet. The lawsuit won’t end with a surprise announcement in a private SEC meeting. If a dismissal does happen, it will likely follow a formal process and won’t catch the public completely off guard.
Case is in abeyance (paused) at Second Circuit Court. SEC must file status update by August 15 before any further action.
Next key date is August 15 when SEC must update court on appeal plans. No resolution expected before this deadline.
If dismissed, Ripple’s penalty (held in escrow) moves to U.S. Treasury after SEC commissioners’ formal vote – not via private meeting.
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