The SEC has no plans to announce the outcome of the Ripple lawsuit during Crypto Week.
The SEC's legal process usually takes 1-2 months and there are no signs of an early ruling. Information about closed meetings does not mean that a settlement will be announced immediately.
MAIN CONTENT
The information that the SEC will end the Ripple lawsuit during Crypto Week is unfounded.
The legal process takes time; there is currently no decision or ruling from the court.
The SEC's closed meeting is a routine activity, not necessarily related to Ripple.
Where does the information about the SEC soon announcing the end of the Ripple lawsuit come from?
This is a statement originating from the cryptocurrency community on social networks and forums, especially after the SEC held a closed meeting on July 10. XRP fans are spreading rumors that the SEC will quickly have an official announcement during Crypto Week. However, this is merely speculation and lacks verified evidence.
Is it feasible for the SEC to announce litigation during Crypto Week?
Attorney Marc Fagel, a former SEC employee, asserts that a ruling or settlement cannot happen hastily in just a few days. According to him, the internal voting process on law enforcement recommendations typically takes one to two months. Therefore, the likelihood of the SEC announcing results during Crypto Week is very low.
“A quick ruling is unrealistic. The time required to make decisions in legal cases always requires careful consideration and a strict internal process.”
Marc Fagel, former SEC attorney, July 2024
Judge Analisa Torres currently does not have jurisdiction over the case as there are no pending lawsuits before the court, which further confirms that no early ruling will be issued. The case has entered the final stage with Ripple agreeing to drop the cross-appeal; the SEC is also expected to do the same but needs to complete the internal voting process.
What is the significance of the recent SEC closed meetings regarding the Ripple lawsuit?
Although the SEC's closed meeting on July 10 garnered attention from the community, it was merely a routine administrative activity, not directly related to settling or ending the lawsuit. Jumping to the conclusion that the SEC will announce results based solely on this meeting is lacking in legal and practical basis.
Summary table of evidence regarding the rumor that the SEC is ending the Ripple lawsuit
Claiming that the SEC will announce the end of the Ripple lawsuit during Crypto Week has no official confirmation; legal time usually takes 1–2 months. Can Judge Torres issue a ruling before 14/7? Currently, she has no jurisdiction and no cases pending. Does the SEC's closed meeting signal an impending settlement? The meeting was a routine activity, not directly related.
Conclusions on the rumor that the SEC is ending the Ripple lawsuit during Crypto Week
The information circulating online about an end to the Ripple lawsuit during Crypto Week is not based on legal grounds or verified information. Legal experts and former SEC attorneys believe that the internal process is still ongoing and it is not yet time for a final conclusion.
“One should avoid having excessive expectations about unverified information. Legal processes always require time and transparency.”
Mr. Nguyen Van An, legal expert on cryptocurrency, July 2024
Frequently Asked Questions
Has the SEC made a final decision on the Ripple lawsuit? No, the legal process is still in the internal voting stage and there is no official ruling yet. What does the SEC's closed meeting on July 10 have to do with the Ripple lawsuit? Not directly, it was a routine administrative meeting not meant to settle the lawsuit. Can Judge Torres issue a ruling before July 14? No, she currently has no jurisdiction and no cases pending before the court. Is the rumor about the SEC ending the Ripple lawsuit credible? No, this is a rumor based on speculation without legal evidence or an official announcement. How long is the Ripple lawsuit expected to take? According to experts, this process may take an additional 1-2 months for the final steps.
Source: https://tintucbitcoin.com/xrp-co-duoc-sec-huy-kien/
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