Ripple’s SEC Case: Why It Lingers Amid Settlements

Ripple and the SEC: A Long Legal Journey

The Ripple vs. SEC case has been a hot topic in the world of cryptocurrency. It started when the SEC said Ripple’s XRP token was an unregistered security, which sparked a big debate about what cryptocurrencies really are. Even though there have been many other cases that got resolved, this one is still going on. Let’s find out why it’s taking so long.

How it All Began

The case began when the U.S. Securities and Exchange Commission (SEC) sued Ripple. They said Ripple’s XRP token was an unregistered security. This made people talk a lot about what cryptocurrencies are and what the law says about them. Then, Judge Analisa Torres said XRP was not a security, which was good news for Ripple[1].

The Long Road of Appeals

Even after this decision, the SEC didn’t give up. They said they didn’t agree with the judge’s choice and wanted to change it. This started a long process in the court, where they talked about this case in September or October 2025, and we might get a final answer in January 2026[1]. This appeal process is one of the main reasons the case is still not over.

Guessing What Might Happen

Some people think the SEC might stop their case against Ripple. This could happen because the people in charge of the SEC are changing. A man named Giancarlo, who used to be the head of the CFTC, even said the SEC would stop if their leader changed[1]. But these are just guesses, and we don’t really know what will happen.

Ripple’s Plans and the SEC’s Position

Some lawyers think Ripple might be waiting for a better outcome before the case ends. They say Ripple wants to have an Initial Public Offering (IPO) and needs a more favorable decision to do that. But others, like Fred Rispoli, say the SEC is the one making things slow. He thinks both sides should stop arguing and Ripple should just pay a fine of $125 million[4].

A Complex and Changing Story

The Ripple vs. SEC case is still going on, and it’s a complicated story. The appeal process, guesses about what the SEC will do, and Ripple’s plans are all making it take a long time. While we wait for an end, we know this case is important for Ripple and how they will work in the future. It also shows us how hard it is to make rules for cryptocurrencies.

Sources:
Binance
The Currency Analytics

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