XRP News Today: Ripple-SEC Settlement Unlikely Before July 14 Due to SEC Review Process

Marc Fagel, a former SEC regional director, has stated that a settlement between Ripple and the SEC is unlikely to occur before July 14. This assessment is based on the SEC's internal review process, which typically takes weeks to complete, and the absence of any pending motions in the case. Fagel's comments come as rumors circulate within the XRP community about a potential settlement by July 14, which he dismisses as unrealistic.

Fagel explained that the SEC has not filed a motion to dismiss the pending appeal, a necessary step before Judge Analisa Torres can resume jurisdiction over the case. Without such a filing, the court lacks the authority to proceed with any ruling or agreement. He also noted that the SEC's internal review process for settlements typically requires a formal vote, which usually takes one to two months to complete. This timeline makes it logistically impossible for any settlement or ruling to occur before July 14.

Legal analyst James K. Filan has also stated that Judge Torres has no jurisdiction at this point in the case. Until a motion is submitted or the appeal is withdrawn, her courtroom remains inactive. Fagel supported this position, confirming that the judge cannot proceed without a formal request from either party. Fagel also addressed rumors about former SEC Chair Gary Gensler’s involvement, stating that the Ripple lawsuit began before Gensler took office. The case was filed in 2020 under previous leadership, and the decision to pursue the case had no connection to Gensler’s tenure or actions.

With no pending motions, no appeal dismissal, and no SEC vote, legal movement in the case remains stalled. All current facts point to a timeline that extends beyond the July 14 date circulating online. The ongoing legal dispute between Ripple and the SEC has been a focal point for the cryptocurrency community, with many hoping for a resolution that could set a precedent for the regulation of digital assets. The case revolves around whether Ripple's XRP token should be classified as a security, which would subject it to stricter regulatory oversight.

A settlement could potentially expedite the approval process for other cryptocurrency-related initiatives. The absence of a settlement by July 14 suggests that the legal process may take longer than anticipated. This delay could have implications for the broader cryptocurrency market, as investors and companies await clarity on regulatory frameworks. The outcome of the Ripple-SEC case could influence how other digital assets are treated under securities laws, potentially impacting the development and adoption of blockchain technology.

The legal battle between Ripple and the SEC has been closely watched by industry participants and regulators alike. The case has highlighted the need for clear guidelines on the classification of digital assets, as well as the potential for regulatory arbitrage. The absence of a settlement by July 14 underscores the complexity of the issues at hand and the challenges faced by regulators in adapting to the rapidly evolving cryptocurrency landscape. As the legal process continues, stakeholders will be closely monitoring developments for any indications of a resolution or further delays.