The high-profile Ripple vs SEC case has crypto enthusiasts on the edge of their seats, awaiting its resolution. While many wonder what’s holding up the case, former SEC lawyer Marc Fagel posits that the case is progressing on schedule without any unexpected delays. Is the case on track for a swift resolution?
SEC Lawyer Reveals XRP Lawsuit’s Predictable Progression
With major developments in the Ripple vs SEC lawsuit failing to bring closure, the XRP community is left with many unanswered questions. Reflecting on the court’s alleged delay in approving Ripple and the SEC’s joint motion to dismiss the case, a community member posits that Judge Torres is effectively holding up the case. The X user attributes the settlement delay to the judge’s procedural requirements, adding that the court needs time to process the formalities.
In response to this comment, former SEC lawyer Marc Fagel posited that “nobody is holding up the case.” In an X post, Fagel shared insights on the ongoing XRP lawsuit, highlighting its smooth progress.
Reiterating his previous statement that Judge Torres has no further role in the Ripple vs SEC case, Fagel asserted that she is not holding up the lawsuit. He also emphasized that the SEC isn’t intentionally delaying the case, instead following standard dismissal procedures expected to take 1-2 months post-vote. His statement read,
Nobody is holding up the case. Not the judge (there is nothing for her to decide), not the SEC (which has a standard procedure to follow, and will dismiss the appeal once the vote is taken, a process that typically takes 1-2 months).
Next Steps Involved
Interestingly, Marc Fagel has provided clarity over the SEC’s potential steps in the XRP lawsuit multiple times. Contrary to speculation that Ripple had officially dropped its appeal against the SEC, Marc Fagel clarified that no such filing has been made yet. He also added that both Ripple and the SEC are expected to dismiss their appeals, but it may take one or two months for the official proceedings.
Reinforcing his position, Fagel argued via his recent X post that the case is now in a straightforward phase where the parties will likely dismiss their appeals shortly, as nothing is pending before the judge. He noted, “So there is nothing pending before the judge; it’s now in the hands of the parties to simply dismiss their appeals, which they will do shortly.”
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Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
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