TLDR
SEC must formally vote to dismiss its Ripple appeal, delaying closure.
Dismissal process could take several weeks, says ex-SEC official Fagel.
XRP case won’t close until both parties file formal dismissal papers.
July 3 SEC meeting is routine; no Ripple decision expected that day.
The XRP community continues to monitor the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Former SEC attorney Marc Fagel has stated that the appeal dismissal process may take several weeks or longer. His remarks come as speculation increases over whether the July 3 SEC meeting will bring any immediate resolution.
US SEC Appeal Dismissal Process Could Be Lengthy
Marc Fagel, a former regional director of the SEC, addressed questions from the XRP community about the status of the case. He clarified that even though Ripple has withdrawn its appeal, the SEC must still take formal steps to dismiss its own.
“SEC likely still needs to vote to dismiss appeal. Then the parties need to submit papers dismissing their respective appeals,” Fagel stated on social media. He added that once this is complete, the district court’s order would then go into effect. However, he cautioned that there is no specific timeline for these steps, and the process could extend over several weeks or longer.
Although there is a chance the timeline could be accelerated, Fagel noted there are no guarantees. The ongoing procedures must follow standard legal and administrative processes before a final outcome is reached.
July 3 SEC Meeting Unlikely to Conclude XRP Case
A scheduled SEC meeting on July 3 has generated discussion within the XRP community. The meeting agenda includes general case reviews, and some believe it could involve a decision on the Ripple case.
Despite the growing speculation, Fagel dismissed these assumptions. “In other words, the meeting they hold every Thursday is being held Thursday. Tells us nothing about Ripple timing. Sorry,” he posted, making it clear that the meeting should not be interpreted as a special session for the Ripple matter.
These meetings are routine internal discussions held weekly by the SEC. Fagel’s comments suggest that while case closures may be reviewed, there is no evidence that the Ripple case will be a focus.
Legal Procedures Still Required Before Final Resolution
The dismissal of the SEC’s appeal is one of the final steps needed for the lawsuit to end. However, according to Fagel, both Ripple and the SEC must submit formal dismissal papers. These filings must then be accepted by the district court.
Only after these actions are completed will the court’s previous ruling take effect. While Ripple has already withdrawn its appeal, the SEC must still formally vote to drop its appeal. This internal vote, followed by the legal filings, will take time to complete.
The district court cannot act until it receives and processes the formal requests from both parties. As a result, even with no active disputes remaining, the case cannot officially conclude until all steps are finalized.
XRP Community Faces More Waiting
The XRP community had hoped for a quick resolution following recent developments. However, Judge Torres recently denied a joint motion, delaying the process further.
Although Ripple’s appeal has been withdrawn, Fagel emphasized that the case will not officially close until the SEC follows suit. The final settlement will depend on the agency completing its internal procedures and filing necessary documents in court.
While there is some hope for an expedited process, no deadline has been announced. As a result, the community must continue to wait for official confirmation that the lawsuit has ended.
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