Ripple vs. SEC: Upcoming Key Date to Watch

Key Date Looms in Ripple-SEC Case as 60-Day Deadline Approaches

Legal attorney and XRP enthusiast Bill Morgan suggests a pivotal moment may be approaching in the Ripple-SEC case. The SEC's 60-day deadline to file a status report with the Court of Appeals expires on June 16, potentially marking a critical turning point in the long-running legal dispute.

Morgan noted, "I was expecting some filing in the SEC v. Ripple case, especially given that the 60-day period before the SEC is required to file a status report with the Court of Appeals expires on 16 June."

This deadline holds significance as it represents the conclusion of the SEC's window to inform the Court of Appeals about any case developments.

In an unusual development, Morgan pointed to the submission of "an individual's multi-page critique of the Howey test, its judicial interpretation regarding investment contracts, and objections to the SEC spanning 90 years." While unlikely to influence the case outcome, this filing highlights the intense emotions surrounding this high-profile lawsuit.

Following Judge Torres' recent rejection of the parties' motion for an indicative ruling, attention now turns to whether the court will provide guidance on dissolving the injunction and releasing escrow funds - with $50 million potentially going to the SEC and the remainder returning to Ripple.

Should Judge Torres issue an indicative ruling, both parties would then seek a limited remand to pursue this relief. If granted, they would file a motion requesting the injunction's dissolution and fund distribution.

The final stage would involve both parties asking the Court of Appeals to dismiss their respective appeals once the injunction is lifted and funds are distributed, bringing closure to this landmark case.