Ripple Never Dropped Its Appeal with the SEC. So What Happened? Details
Main Idea
Ripple's legal battle with the SEC remains active as neither party has filed a formal dismissal, despite public assumptions that the case was over, and the $125 million fine is already in escrow.
Key Points
1. Ripple CEO Brad Garlinghouse previously stated the company was 'dropping the appeal,' but no formal withdrawal of the cross-appeal has been filed.
2. Former SEC attorney Marc Fagel confirmed that Ripple has not dropped its cross-appeal and the SEC has not filed for dismissal either.
3. The delay in filings is due to the SEC needing to complete an internal process before any dismissal can be submitted.
4. Ripple's $125 million fine is already in escrow, indicating readiness to fulfill the penalty once formalities conclude.
5. Judge Analisa Torres, who delivered the 2023 ruling on XRP sales, remains involved in the case.
Description
In a development that has surprised much of the crypto community, Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) is still ongoing. Despite public statements suggesting that the appeals were dropped, no formal dismissal has been filed by either Ripple or the SEC. The revelation, brought to light by crypto researcher Diana via X, confirms that the case remains active and not yet finalized. Public Assumptions vs Legal Reality Back in June, Ripple CEO Brad Garlinghouse ...
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