XRP News Today: Ripple vs. SEC Case Delayed by Internal SEC Procedures and Pending Appeals

The delay in the settlement of the Ripple vs. SEC case is primarily due to internal procedures within the SEC, specifically the drafting of action memos. This process is a critical step in the resolution of the case, and its completion is necessary before the settlement can be finalized. Additionally, the case remains unresolved due to pending appeals from both Ripple and the SEC. Neither party has formally withdrawn their appeals, which is a required step to trigger the final stages of the settlement process. The $125 million fine imposed on Ripple has already been paid in cash and is currently held in escrow pending the resolution of the ongoing appeal process. Ripple had attempted to negotiate a reduced fine of $50 million but was unsuccessful in its efforts. The escrow arrangement will be finalized once the appeals are dropped, and the cash payment will then be released to the SEC. Until then, the case remains technically open, and the money stays in escrow under court supervision.

Legal experts have also addressed speculation surrounding the possible use of XRP for U.S. national reserves, dismissing these theories as baseless. The U.S. government has no intention of seizing Ripple’s XRP escrow holdings as part of its national crypto strategy. The delay in the finalization of the Ripple vs. SEC lawsuit is not due to negotiations but rather the SEC's internal procedures. The case has stretched into 2023, with many believing that Ripple and the SEC could be nearing a quiet resolution. A settlement would lift a significant burden from Ripple and provide clarity to the cryptocurrency market. The payment of the fine in cash, rather than XRP, has been confirmed by former SEC enforcement attorney, who clarified that the penalty was made entirely in cash and deposited into an escrow account as part of a court order. This statement counters widespread online speculation that the penalty could be paid using the XRP token. The appeal dismissal process typically takes one to two months after an SEC vote, and once the appeals are dropped, the escrow arrangement will be finalized.

The delay in the Ripple vs. SEC case settlement is a result of internal SEC procedures and pending appeals from both parties. The case remains unresolved until these steps are completed, and the escrow arrangement is finalized.