Ripple’s Fate REVEALED! 🤯

by

The Securities and Exchange Commission (SEC) and Ripple, in a move that might be considered almost amicable, have had their joint request to suspend legal proceedings on their cross-appeal approved. One might say they now have 60 days to decide how best to end their little squabble. 😮

This Ripple case, which has been meandering toward a final resolution for what feels like an eternity, continues to be delayed by the most tiresome of procedural hurdles. For instance, the Commission, in its infinite wisdom, cannot sign any agreement until Mr. Paul Atkins officially assumes his position as Chair. One wonders if they might simply draw straws? 🤔

When, oh when, will Ripple and The SEC come to an Agreement?

The case of Ripple versus the SEC, a grand spectacle of the Gensler era, has been, as they say, “wrapping up” for over a month. The Commission, after much deliberation, signaled its intention to abandon the case, and then, with a flourish, fully committed. 🙄

A lone cross-appeal stands between them and a final agreement, yet both parties have proposed a settlement. Such progress!:

“The parties’ joint motion to hold the appeal in abeyance has been granted. The SEC is directed to file a status report within 60 days of this Order,” declared Mr. James Filan, an attorney observing the proceedings from a safe distance.

Specifically, Ripple and the SEC jointly requested a pause on all courtroom appearances related to the cross-appeal. The two parties, making such commendable progress towards an agreement, wished to save time and legal fees. A most sensible notion! 🧐

The SEC made a similar request with Binance, citing “productive talks” towards a settlement. This request, however, differed slightly, as the Binance filing mentioned broader policy implications. How very intriguing! 🤔

Still, today’s development suggests that matters may progress faster than these 60-day deadlines. One can only hope. 🙏

Unfortunately, there remain a few obstacles to a speedy resolution. President Trump nominated Mr. Paul Atkins to be the next SEC Chair, and he has successfully navigated his confirmation hearings. However, the formal swearing-in ceremony is yet to occur. The suspense is quite unbearable! 😩

For those asking: Paul Atkins hasn’t taken his seat at the @SECGov yet.⁰
There are a few procedural steps before he can officially start including President Trump signing off on his appointment and the formal swearing-in.

This could happen any time over the next few days so…

— Eleanor Terrett (@EleanorTerrett) April 14, 2025

It is a mere formality, yet such formalities can, and often do, hold up the process. One shudders to think of the delays! 😫

That is to say, Mr. Atkins must Chair the SEC to approve a settlement with Ripple. The crypto industry, accustomed to chaos and rapid change, may find these legal proceedings rather… tedious. 😒

Ideally, Mr. Atkins could sign a settlement agreement immediately upon taking office. However, more minor delays could certainly occur. One must prepare for the worst, after all. 😔

Read More

2025-04-17 00:06