- Legal experts Bill Morgan and Marc Fagel discussed potential procedural delays in finalizing the SEC’s lawsuit against Ripple.
- Fagel suggested that the ongoing delay likely indicates the original vote did not authorize full dismissal.
- If a second vote is required, final resolution of the Ripple case could be delayed further.
A brief but insightful discussion between attorney Bill Morgan and former SEC regional director Marc Fagel has added to the growing speculation over the delay in concluding the high-profile lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
On August 4, Bill Morgan shared that he had spoken with another former SEC attorney who remained unsure whether an additional vote was necessary to finalize the dismissal of the case. The uncertainty sparked renewed discussion about procedural hold-ups.
“I had an exchange with another ex–SEC attorney who was unsure if another vote was needed?” Morgan tweeted.
Marc Fagel, a widely followed commentator on securities enforcement and former SEC official, responded that while there was a “very small” chance the original approval vote had already authorized dismissal, even without modifying the injunctive order, the continued delay suggested otherwise.
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“Given the delay, seems pretty clear that was not the case, so we’re presumably still waiting on another vote,” Fagel wrote.
Regulatory Gridlock?
The exchange highlights ongoing speculation that procedural or bureaucratic hurdles within the SEC may be stalling what many expected to be the final stage of the Ripple litigation. After a prolonged legal battle over whether XRP constitutes a security, much of the crypto community has been watching closely for signs of a definitive conclusion.
Ripple recently secured a series of partial legal victories, but full dismissal and potential resolution of outstanding injunctive elements remain pending.
What Comes Next?
If Fagel’s interpretation is correct, another formal vote may be required by the Commission to approve the final terms of dismissal or settlement. This could potentially delay a resolution by days or even weeks, depending on the SEC’s internal processes.
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