The legal standoff between Ripple and the U.S. Securities and Exchange Commission (SEC) may soon see a procedural shift, as the SEC is required to provide a status report to the U.S. Court of Appeals for the Second Circuit by June 16.
This deadline was established in April when the court granted a temporary pause in the appellate proceedings following a joint request from both Ripple and the SEC. Legal observers are closely monitoring this date, as it could signal the resumption of the appeal and cross-appeal process or reveal a change in direction of the case.
Bill Morgan, a well-known attorney who has been actively commenting on developments, noted that a response must be filed soon. According to him, either the legal proceedings will move forward with briefing deadlines, or some new procedural development will take place.
The count down to the date the SEC must report to the Appeal Court is now 12 days. Something has to happen by then or the Appeal and Cross-appeal continues and a briefing is due from Ripple. pic.twitter.com/pxImvvJxGG
— bill morgan (@Belisarius2020) June 4, 2025
Uncertainty Around a Possible Resolution
The looming deadline has reignited speculation about whether a final resolution between Ripple and the SEC might be near. However, opinions within the legal community remain divided. One complicating factor is the involvement of Justin Keener, who is not a party to the case but has submitted filings in connection with it.
Some view Keener’s actions as an attempt to influence the outcome or introduce unrelated legal arguments, adding complexity to an already intricate situation. According to a Bloomberg report, Attorney Andrew Balthazor, a partner at Holland & Knight, expressed skepticism about the possibility of a near-term resolution.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
He pointed out that both parties have had ample time to submit updates or documentation, yet no substantive filings have been made since the court granted the pause. For Balthazor, this delay implies that unresolved issues may still be preventing a clear path forward.
In contrast, Keri Axel of Waymaker LLP takes a more optimistic view. While she acknowledges the lack of momentum, she interprets the pause as a possible opportunity for constructive dialogue between the parties and believes they will resolve the case.
All Eyes Are On the SEC
The SEC’s enforcement actions in the crypto space have faced criticism for lacking clarity and consistency. Many see this case, which has been ongoing for years, as a test of the agency’s approach to digital assets. Its end would cement XRP’s legal clarity and the SEC’s new pro-crypto stance.
As June 16 approaches, all eyes will be on the SEC, as the end of the lawsuit would also eliminate uncertainty and allow hesitant institutions to embrace XRP and partner with Ripple to advance global financial systems.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
