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Mark Fagel, a former SEC lawyer who actively participated in the XRP community during the lawsuit between the securities regulator and Ripple, clarified the confusion surrounding the timeline of the prolonged lawsuit.
A recent post by Michelle Kirby, a staunch supporter of XRP, once again drew attention to the lawsuit. Kirby suggested that the SEC case was postponed to August 15, 2025. In her tweet, she expressed her frustration with the delays in regulation in the U.S., especially in light of events in the Canadian cryptocurrency landscape.
In her video, Kirby emphasized the approval of two XRP spot exchange-traded funds (ETFs) in Canada and highlighted the potential impact of these ETFs, estimating an inflow into XRP of $200 to $300 million through these instruments. She criticized the apparent sluggishness of the U.S. regulatory system, particularly the SEC, for not yet allowing comparable financial products despite the technology being developed in the United States.
In her message, she questioned the logic behind the regulatory delays, suggesting that the U.S. government may be waiting to oversee part of XRP potentially related to Ripple's escrow before moving forward.
Shortly after the publication of Kirby's tweet and video, Mark Fagel, a former regional director of the SEC and securities expert, directly responded to her claim about the alleged delay in the SEC's case against Ripple.
Fagel firmly corrected the narrative, stating: 'The SEC case is NOT postponed until August 15. The district judge can rule on the motion under consideration within hours, days, or weeks (or months or years, if it comes to that, but obviously it won't go that far).'
His comment served as a legal rebuttal to the date mentioned in Kirby's tweet. Fagel made it clear that there is no formal extension or postponement of the case until August 15, and he emphasized the discretionary power of the court in making a decision on the motion at hand. By stating that a decision could be made at any time, Fagel implied that assumptions about specific future dates are not based on actual grounds unless the court officially communicates this.
The SEC's lawsuit against Ripple has been closely monitored from the very beginning, and various rulings and procedural developments have attracted keen attention from both legal experts and retail investors. The case has become a reflection of the broader confusion surrounding cryptocurrency regulation in the U.S., especially regarding gaining support from major financial institutions.
The complexity is exacerbated by how the SEC is handling the proposed XRP spot exchange-traded fund (ETF). In April 2025, the Commission postponed its decision on the Franklin XRP Spot ETF, moving it to June 17.
On this day, instead of making a final decision, the SEC issued an order to initiate an investigation aimed at assessing whether to approve or disapprove the proposed rule change that would allow the listing and trading of the ETF. This action also opened a new round of public comments, further dragging out the approval process.
The start of the investigation heightened investors' frustration, especially in light of progress in regulation in other countries, such as Canada, where XRP Spot ETFs are already advancing. Many in the XRP community interpret the prolonged discussions at the SEC as a sign of institutional resistance, despite growing demand and technological maturity.
Mark Fagel's intervention underscores the importance of distinguishing speculation from legal facts in the context of high-profile lawsuits involving digital assets.
Although investor frustration regarding the timeline of the Ripple case remains palpable, no official statement confirming a postponement until August 15, 2025, has been issued. As Fagel noted, the timelines for a decision remain entirely at the judge's discretion and could conclude sooner than expected.
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The material is created based on information from the website - Times Tabloid
