The U.S. Securities and Exchange Commission (SEC) has yet to release an official statement confirming the conclusion of its long-standing lawsuit against Ripple, despite recent developments indicating the case is effectively over.
Digital Assets Daily (@AssetsDaily), a prominent crypto pundit on X, drew attention to this, highlighting a concern echoed by many within the digital asset community.
In recent weeks, the SEC has dismissed multiple crypto-related lawsuits, and Ripple has confirmed that both parties have agreed to drop their respective appeals in the ongoing litigation. However, the absence of a formal announcement from the SEC has left some observers cautious about the case’s final status.
Ripple Confirms Settlement Terms
Ripple’s Chief Legal Officer, Stuart Alderoty, recently confirmed key details of the settlement. According to Alderoty, Ripple’s penalty was reduced from $125 million to $50 million. Furthermore, the permanent injunction that previously restricted the company from selling XRP to institutional clients will be removed.
Ripple CEO Brad Garlinghouse has also commented on the end of the lawsuit. Despite these public confirmations from Ripple’s leadership, official acknowledgment from the SEC or the court has not been provided. This has caused uncertainty among some in the crypto space seeking definitive closure.
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Community Waits for Legal Formalities
The XRP community remains divided between those who accept Ripple’s statement as conclusive and those who are waiting for documentation or comments directly from the SEC or the court. One community member cited Fred Rispoli, a well-known attorney in the crypto space, who revealed that the remaining formalities in the case could take up to 60 days.
This would not be unusual in a federal case, where court dockets and filings may take time to reflect finalized agreements. According to Rispoli, the paperwork has been drawn up already, and he expects the SEC to vote on it within 30 days.
Garlinghouse announced the decision on March 19, putting the end of the voting timeline at April 18 and the end of the 60-day timeline at May 18. Recent rumors also suggest that the SEC has voted on the matter already, potentially shortening the timeline.
Though the SEC has not publicly commented, legal professionals familiar with the matter have indicated that the mutual decision to dismiss appeals typically signals the end of substantive legal conflict, pending final procedural steps.
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