Ex-SEC Lawyer: “We’re Presumably Still Waiting On Another Vote” In XRP Case

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.