The long and publicized case of the United States stock and values commission against Ripple Labs seems to approach its end. However, a new document presented by the SEC on August 15 before the Court of Appeals of the Second Circuit of the United States serves as a crucial reminder: despite the agreement of the parties, the final verdict still hangs from the Court’s decision.
The documentation presented by the regulatory body is a state report that reiterates that both the SEC and Ripple They have reached an agreement to dismiss their appeals. This movement, although it is a positive and expected sign, does not close the tenderloin of the litigation.
According to him documentthe joint stipulation of dismissal presented by both parties on August 7 “is still pending.” This formality is necessary for the Court of Appeals to legally conclude the case, a step that the XRP community and investors have been waiting with anxious.
The optimism surrounding this agreement is understandable. The market has reacted positivelywith the price of XRP experimenting a remarkable rebound between August 7 and 8. Although it has lost impulse the following days, it has been maintained on the USD 3 per unit.
Despite the expectations in the footsteps that the SEC and Ripple took, the history of the case teaches us that these do not always coincide with the rhythm and formalities of the judicial system. Cryptonoticias reported that, in June, Judge Analisa Torres rejected a joint motion of the SEC and Ripple to reduce the fine of USD 125 million that was imposed on the company and dissolve a permanent court order.
Although the current situation is different, since it is not about modifying a fine or dissolving an order, the need for the Court to approve is an inescapable step. The document presented by the SEC on August 15 confirms that Waiting for the Court of Appeals to formally approve the dismissala process that could take days or weeks.
Thus, while the crypto world celebrates what appears to be the end of a conflict that has prolonged for almost five years, the resolution will not be complete until the final order of the Court is issued. The wait continues, but everything indicates that this long legal chapter is about to come to an end.
