- Former SEC lawyer confirms Ripple has not dropped its appeal.
- Legal dismissal process still pending internal SEC approval and filings.
- Judge Torres no longer involved as case nears final stage.
The XRP community remains on high alert as the legal proceedings between Ripple and the U.S. Securities and Exchange Commission edge toward resolution. Latest comments from former SEC regional director Marc Fagel have shed light on the legal process still underway, offering key updates amid growing public pressure for clarity.
Fagel posted these remarks in response to a message posted by X user @Want_Pride_Back, who had asked about when Ripple withdrew its countersuit against the SEC, and why Paul Atkins had failed to seek a dismissal of the entire case.
The questions were directed at Ripple CEO Brad Garlinghouse, but Fagel came in to clarify the situation in terms of law.
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Fagel clarified that Ripple has not yet dropped its cross-appeal. He also pointed out that a series of legal procedures has to be taken by the SEC before it can move on with retracting the cross-appeal. This process includes a formal review and vote, which may take months to complete.
Fagel pointed out that there is no delay game in play, with the timeline being just a routine regulatory process. With such an internal settlement, both Ripple and the SEC will be capable of filing the papers of dismissal in court.
Clarification on Ripple’s Legal Standing and Judge’s Role
In the same thread, Fagel confirmed that Judge Analisa Torres, who presided over major rulings in the case, no longer plays an active role. The procedural stage being pursued does not involve her, meaning that the case is going into the last administrative actions.
Fagel’s update has helped clarify misconceptions that the delay was strategic or politically motivated. His comments were directed at disagreeing with the criticism generated by the community that the process was being deliberately stretched in order to have an impact on external forces.
It is important to note that Ripple’s fine of $125 million is already being held in escrow, awaiting formal approval before release.
As the legal resolution approaches, updates from former SEC lawyer Marc Fagel have provided insight into the steps still required. Both Ripple and the SEC must complete the necessary court filings before the case can be officially closed.
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