A lawsuit filed against Ripple by the Securities and Stock Exchange Commission (SEC) has been raging over the last five years. While the last year has brought very good news for XRP supporters, it has not yet been completely rejected, which further weakened morale. But although it seems that there is a solemn case in which the claim should be completed, a former SEC lawyer to check if what actually stops the application.
No waiting decisions in Ripple vs. Sec lawsuit
One member of the XRP community known as Tonithrippler Published On X (earlier Twitter) about the possibility of approval of the Ripple banking license was quickly caused by a debate in the comments when it would happen. The members of the community were mainly worried about the ongoing ripple vs. SEC or how it can affect and probably delay the approval of the banking license.
One member of the community replied It is expected that things will move quickly when there is a Crypto Sec. However, another user commented that if that were the case, they would have already dropped the Ripple case. The third user then explained that the defect is not in SEC, but rather with a judge, Analysis of Judge Torreswho ordered both sides to follow the proper trial to quit the case.
Given that many pages are thrown, former SEC Marc Fagel lawyer, he came to tidy the air and reveal what really maintained the case. Because both SEC and Ripple agreed to drop the case, Fagel revealed That none of them was guilty for the fact that the case was not yet dropped. On the contrary, both sides must perform a standard procedure to do this, and the problem was that this procedure usually lasts from 1 to 2 months before its completion.
Explaining further, Fagel, corresponding to the same user, explained that both sides actually sent their reports to drop the case. But the court decided that they did not meet the required weight. In this way, Judge Analissa Torres refused to modify the order against Ripple.
This means that currently there is nothing to meet by the court, because both parties no longer have any sentences. Instead, they have to work now to actually meet the requirements to reject completely appeals that were initially lodged by both partiesWhat Fagel said they would do it soon.
As for when the ripple vs. lawsuit The SEC will be completely completed, passing through the schedule provided by Fagel, this would mean that the claim should be completed at the end of August, except for all other events.
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