Members of the XRP community are preparing for the next chapter of the SEC vs. Ripple case, especially with the key deadline approaching.
The legal battle between the SEC and Ripple has been ongoing for more than four years, and there is still no clear end date in sight. Meanwhile, an important court deadline is approaching that may determine the next stage of the long-standing legal dispute.
June 15 Deadline
For context, the deadline refers to the expiration of a 60-day temporary pause granted by the Second Circuit in the Ripple case. As previously reported, the parties jointly requested a 60-day extension on April 10, 2025, asking the Second Circuit to temporarily suspend the proceedings while they work on a potential resolution.
The request came just days after the parties reached a verbal agreement to withdraw their appeals. Under the agreement, Ripple will pay a fine of $50 million (down from $125 million), and the parties will lift the permanent ban on future institutional sales of XRP by the company.
After this agreement, the parties requested a 60-day pause from the court to finalize the settlement. The court granted this request on April 16, setting a deadline of June 15 (often rounded to June 16) for the SEC to file a status report.
SEC Status Report
In this report, the SEC will officially inform the court about the status of the resolution. This will indicate whether they need more time to achieve this goal.
The June 15 deadline is fast approaching, and the broad XRP community is eagerly awaiting what the next steps from the parties might be and how they could affect the course of the case.
Recall that Judge Analisa Torres rejected the parties' motion for a preliminary ruling on the settlement agreement. This decision created a significant hurdle for resolving the Ripple case.
The parties still need to refile their settlement motion. Nevertheless, June 15 remains a critical date, as the SEC's status report will determine the next phase of the case.
It is clear that both the SEC and Ripple are eager for a resolution that will bring the case to an end. Therefore, they are likely to express their commitment to settling in the upcoming status report, which is due on June 15.
https://cryptonews.net/ru/news/legal/31057211/