XRP News Today: Ripple and SEC Move to Dismiss Appeals as Legal Dispute Nears Resolution

The U.S. Securities and Exchange Commission (SEC) has filed its August 15 status report with the U.S. Court of Appeals for the Second Circuit, confirming that both Ripple and the SEC have submitted a Joint Stipulation of Dismissal of their cross-appeals [1]. This procedural step signals that both parties are moving toward a formal resolution, though the final approval must come from the appellate court [2]. The report does not introduce new legal arguments or findings, but it underscores the parties’ intent to close the long-running legal dispute.

Bill Morgan, a prominent legal commentator in the cryptocurrency space, has criticized the ongoing spread of misinformation regarding the case, particularly concerning the role of U.S. District Judge Analisa Torres [3]. He noted that the current stage is a “formality” and clarified that Judge Torres no longer has authority over the case, as the matter has moved to the Second Circuit. The judge had previously denied the parties’ request for an indicative ruling, which shifted control to the appellate court [4].

Despite this clear procedural timeline, some community members continue to speculate that Judge Torres may issue a “final order” at any time. This, Morgan stressed, is inaccurate and misleading. The only remaining step is for the Second Circuit to approve the dismissal stipulation. Once this occurs, the appeals will be formally terminated, and the case will be resolved [5].

Attorney James K. Filan, who shared the status report, reiterated that the dismissal stipulation is pending with the appellate court and that the next action will come from that body, not the district court [6]. Ripple had already expressed its intent to dismiss its appeal, and the SEC followed suit approximately one month later [7]. This mutual agreement to end the appeals highlights a significant shift in the legal landscape, with both sides now aligned on the need for closure.

Morgan has repeatedly emphasized the importance of accurate legal reporting and has sought to correct recurring misstatements about the case’s timeline and jurisdiction. His latest comments reinforce the idea that the outcome is no longer in the hands of the district court but rather the appellate court, where final approval will be granted [8]. This clarification is crucial, as misinformation can influence public perception and create unnecessary market volatility.

The resolution of the Ripple-SEC case has broader implications for the regulatory treatment of digital assets. As one of the most high-profile legal battles in the crypto industry, the outcome could set a precedent for how other digital tokens are classified and regulated. With the appeals now pending formal dismissal, the legal community and market participants await the court’s decision, which could bring long-awaited clarity to a contentious and evolving regulatory landscape [9].

The case’s resolution remains dependent on the Second Circuit’s approval of the stipulation. Until that occurs, continued speculation about a district court ruling is not only inaccurate but potentially harmful. Both Ripple and the SEC have made it clear that they seek to close this chapter, and the final procedural step is now in the hands of the appellate court [10].

Sources:

[1] Legal Expert Slams Misinformation After SEC Files Status Report On Ripple (XRP) Appeals (https://timestabloid.com/legal-expert-slams-misinformation-after-sec-files-status-report-on-ripple-xrp-appeals/)