Ripple vs SEC Case Nears End as Final Steps Begin

The legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing its conclusion, with July 17 being a pivotal date. The case, which began in December 2020, involves allegations that Ripple conducted an unregistered offering of securities by selling XRP. An interim decision in 2023 ruled that while Ripple's programmatic exchange sales did not violate securities laws, its institutional sales did.

Speculation has been fueled by a closed-door SEC meeting scheduled for July 17, which has led to rumors that the SEC might announce the dismissal of its appeal on that day. This speculation was sparked by a post from Abdullah “Abs” Nassif, who pointed to a new market rumor suggesting such an announcement. However, Marc Fagel, the former SEC Regional Director, clarified that the SEC holds private meetings on Thursdays and that the discussions for that meeting are not disclosed. He noted that the agenda is secret and that anyone claiming to know the agenda is merely spreading stories.

Fagel also confirmed that the case is in its final procedural phase. He explained that the case is progressing through standard legal procedures and that neither the judge nor the SEC is holding up the case. The SEC will dismiss the appeal once the vote is taken, a process that typically takes 1–2 months. Both parties have filed all the necessary legal documents, and none are pending before the court.

With no court decisions remaining and both parties poised to dismiss their appeals, the final steps in the Ripple case appear to be underway. All attention now turns to whether the SEC’s next move will confirm the lawsuit’s long-awaited end. The outcome of this case will have significant implications for the cryptocurrency industry, as it will set a precedent for how securities laws apply to digital assets.