Ex-SEC Lawyer: “We’re Presumably Still Waiting On Another Vote” In XRP Case
Main Idea
The XRP legal case between Ripple and the SEC remains stalled, with former SEC official Marc Fagel suggesting another SEC Commissioners' vote may be required for final judgment, prolonging uncertainty for the XRP community.
Key Points
1. Former SEC official Marc Fagel indicated that another vote from SEC Commissioners may be needed before final judgment in the Ripple case, due to procedural delays.
2. The delay centers on injunctive relief, as Judge Analisa Torres rejected a jointly proposed motion from Ripple and the SEC, allowing the appeal to continue.
3. SEC procedures require a formal vote for material changes to enforcement cases, especially involving injunctions, which Fagel suggests hasn't occurred yet.
4. The lawsuit, filed in December 2020, has seen key developments, including a July 2023 ruling that XRP is not a security when sold on public exchanges.
5. The XRP community faces continued uncertainty as the case remains unresolved, with attention focused on the SEC's next steps.
Description
A new legal insight from former SEC official Marc Fagel has sparked renewed attention in the XRP community, as the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) appears to remain stalled due to internal procedural delays. According to Fagel, another vote from the SEC Commissioners may still be required before the final judgment can be approved. This revelation, shared by STEPH IS CRYPTO on X, comes amid rising investor anticipation for closure in ...
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