The Ripple vs. SEC case has been keeping the crypto community on edge lately. Frustrated XRP supporters are blaming the SEC for the delay. However, a legal expert has clarified some important details of the case.
According to attorney Bill Morgan, it’s actually Ripple that is causing the delay. In a recent post, the expert explained that Ripple wants the court to remove the injunction on how it can sell XRP. Surprisingly, the SEC is cooperating and even helping with the process.
While many expected a quick settlement months ago, the case has been held up because Ripple is focused on getting those restrictions lifted first.
One user asked Morgan if dissolving the injunction is necessary for Ripple to move forward. Morgan said, “Ripple needs it, not the XRP investors,” making it clear that the move primarily benefits Ripple’s ability to sell XRP to institutions.
Another question was raised: Can the judge remove the injunction but still keep the fine? The attorney confirmed that the judge has the authority to do that.
The community is frustrated over the ongoing delays in the Ripple vs SEC case. The next update in the Ripple vs. SEC case is set for August 15, 2025. But former SEC official Marc Fagel said that date is not a deadline, and the case is not delayed until then. He explained that the judge could decide on the pending motion at any time, whether in a few hours, days, or even weeks.
In an earlier tweet, Fagel also clarified that Judge Torres had already ruled against Ripple last year, issuing a $125M fine and a permanent injunction. The case continues only because both Ripple and the SEC appealed and are now seeking changes, which is something that is on them, and not the judge.
According to Morgan, a decision could come sooner. Any further delay could trigger new appeals and slow down the settlement talks.
Both parties have signed the deal, paused their appeals, and filed the necessary motions. Now, everything hinges on Judge Torres issuing a ruling. Once approved, Ripple will pay a $50M fine, the injunction will be lifted, and both appeals will be dropped.
The ongoing lawsuit is nearing its end, with both parties seeking a court ruling on their proposed settlement. The next official status report to the court is by August 15, 2025, but a decision could come sooner.
Judge Torres ruled in July 2023 that programmatic (retail) sales of XRP are not securities, while institutional sales were deemed unregistered securities, leading to a fine and injunction.
If Ripple were to completely lose, it would likely face a larger fine and continued injunctions on institutional XRP sales, potentially impacting its US operations and XRP’s market. However, a full loss is unlikely given the partial victory already achieved.
The SEC has delayed decisions on spot XRP ETF applications from firms like Franklin Templeton. While a Canadian XRP ETF launched, US approval is expected later in 2025, with deadlines for Grayscale and 21Shares in October.
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