Ripple・SEC Lawsuit, Major Turning Point on the 15th…Eyes on Dismissal Decision

An analysis has emerged that the legal battle between the US Securities and Exchange Commission (SEC) and Ripple is approaching a critical turning point.

On the 1st, crypto-specialized media outlet CoinPedia reported, "The current appeal between Ripple and the SEC remains pending with the Second Circuit Court of Appeals," adding, "The court has requested the SEC to state its position by August 15. An official decision is unlikely before the deadline."

Earlier on the same day, as news broke that the SEC would hold a closed meeting, speculation of an 'announcement on lawsuit dismissal' spread among some investors. However, former SEC attorney Marc Fagel stated, "There is no direct relevance between that meeting and the Ripple lawsuit," and clarified, "For a dismissal to be made, an official voting process by SEC commissioners must precede it."

Currently, the fine agreed upon by Ripple is being held in Ripple's escrow account, and if the lawsuit concludes, it is expected to be transferred to the US Treasury.

Fagel added, "The lawsuit is unlikely to end in an unexpected way," and noted, "If a dismissal occurs, it will most likely be officially announced after proper procedural steps."

Meanwhile, by the 15th, the SEC must decide whether to maintain the appeal or voluntarily withdraw it like Ripple did. The industry believes this timing could be a watershed moment in the Ripple case.