Ripple vs SEC Appeal Status: Clarifying the Facts and Next Steps
- Antwan Koss
- July 2, 2025
- Legal
- 0 Comments
What’s Really Happening With the SEC and Ripple?
The Ripple vs. SEC case has dragged on for years, and honestly, it’s getting hard to keep up with the latest twists. Lately, there’s been chatter online that the SEC has already dropped its appeal against Ripple. Sounds like good news, right? Well, not so fast. The reality is a bit messier than that.
A judgment was made, sure. And Ripple did decide to scrap its cross-appeal—no surprise there. But the SEC’s appeal? That’s still technically alive, at least on paper. Marc Fagel, a former SEC lawyer, pointed out that both sides need to file official paperwork to kill the appeals for good. It’s pretty much a done deal, but the SEC’s bureaucracy moves at its own pace.
Why the Delay?
Someone on social media asked if there’s any chance the SEC might suddenly change its mind and push forward with the appeal. Fagel’s response was clear: the SEC already agreed to drop it as part of a settlement plan. The catch? That plan hinged on the court lifting an injunction, which didn’t happen. So now, there’s no real reason for the SEC to keep fighting.
“They already voted to dismiss it,” Fagel tweeted. “At this point, they’ll just vote to drop it outright.”
Still, until the SEC finishes its internal vote and the paperwork gets filed, nothing’s official. It’s like waiting for a contract to be signed—everyone knows the deal, but the process drags on.
What Happens Next?
Once the SEC gives the final green light, both sides will submit joint filings to officially end the appeals. That’s when the district court’s original judgment kicks in fully, and this whole saga can finally be put to rest.
Ripple’s CEO, Brad Garlinghouse, seems ready to move on. He recently said the company is dropping its cross-appeal and expects the SEC to do the same. “We’re closing this chapter,” he said, shifting focus to what Ripple actually wants to do—building its version of the “Internet of Value.” (Whatever that means—crypto folks love their vague slogans.)
For now, the appeals process is still technically open. But let’s be real: it’s just a matter of time before the paperwork catches up with reality. A few more weeks, maybe. Then, at long last, this legal headache might actually be over.
Until then? Don’t believe everything you read online. Even in crypto, the wheels of justice grind slowly.
