The lawsuit between the SEC and Ripple regarding whether XRP is a security is still being closely monitored.
Ripple has withdrawn its appeal, but the SEC has not taken similar action. The final decision on the lawsuit will greatly impact the global cryptocurrency market.
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Ripple withdrew its appeal while the SEC maintained its position.
The deadline for submitting reports to the Court of Appeals is August 15, 2025.
The controversy revolves around whether XRP transactions are unregistered securities.
Where does the lawsuit between the SEC and Ripple stand after Ripple withdrew its appeal?
Ripple has officially withdrawn its appeal in the lawsuit against the SEC, while the agency has not yet taken action to withdraw its appeal.
This creates a prolonged legal standoff, making the cryptocurrency community particularly interested in the next developments. Ripple wants to quickly end the dispute, but the SEC still has the right to continue its appeals to protect its legal position.
Legal expert Bill Morgan emphasizes: although the SEC does not have a fixed deadline to withdraw its appeal, they must submit a new report to the Court of Appeals before August 15, 2025.
What is the focal point of the legal debate?
The focus of the lawsuit is whether Ripple's sales of XRP are unregistered securities under U.S. law.
In 2023, the judge ruled that sales of XRP to organizations are securities, while algorithmic transactions on exchanges are not considered securities. This sets an important precedent for distinguishing transaction types in the cryptocurrency market.
Although both sides had reached an agreement, the judge rejected that agreement, prolonging the dispute resolution.
Determining whether XRP is an unregistered security will significantly affect how cryptocurrency Tokens are regulated in the future.
Bill Morgan, cryptocurrency legal expert, 2024
What are the SEC's next steps in the lawsuit?
Although it has not withdrawn its appeal, the SEC is required to present an updated report to the Court of Appeals by the deadline of August 15, 2025.
New information is expected to be provided in the next two weeks, which may shed light on the SEC's next steps in maintaining or changing its legal stance in court.
The cryptocurrency community is hoping for a swift conclusion, based on greater clarity in regulations and management directions for cryptocurrencies like XRP.
What are the expected impacts of the lawsuit on the cryptocurrency market?
The prolonged lawsuit creates much instability and volatility for XRP in particular and the cryptocurrency market in general.
If XRP is determined to be an unregistered security, many other exchanges and projects could also be affected by similar regulatory requirements.
Conversely, if Ripple wins the lawsuit, this will set an important precedent to help shape a more transparent legal framework for Tokens, promoting sustainable development of the market.
Frequently asked questions
What stage is the lawsuit between the SEC and Ripple currently at?
Ripple has withdrawn its appeal, while the SEC is still waiting to submit a new report by August 15, 2025; the case is not yet concluded.
Why is XRP considered a security by the SEC?
The SEC alleges that Ripple's XRP sales are unregistered securities under U.S. law.
What has the judge ruled regarding XRP transactions?
The judge affirmed that transactions for organizations are securities, while automated transactions on exchanges are not.
What is the impact of the lawsuit on the cryptocurrency market?
The lawsuit affects how Tokens are regulated, potentially changing beliefs and operations of cryptocurrency projects.
What will the SEC do next in the lawsuit?
The SEC must submit a new report by August 15, 2025, to update the situation and decide on its next stance.
Source: https://tintucbitcoin.com/xrp-sec-my-sap-phan-hoi-kien/
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