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Ripple Vs. SEC Lawsuit Nears End — Why The July 3rd Date Is Important
The ongoing Ripple vs. SEC lawsuit is on the cusp of reaching a conclusion, as recent developments indicate that both parties are preparing to withdraw their respective appeals. According to an update, Ripple’s CEO Brad Garlinghouse has publicly announced the firm’s decision to drop its cross-appeal, with the Securities and Exchange Commission (SEC) likely to follow suit.
This significant development has led crypto commentator Captain Redbeard to draw attention to a specific date that could have far-reaching implications: July 3rd. In his latest post, Redbeard emphasized that this particular day carries immense importance in the Ripple vs. SEC lawsuit timeline.
While some might be tempted to read too much into the significance of this date, it appears that Captain Redbeard’s assertion is rooted in a series of events surrounding the ongoing litigation. Specifically, he pointed out that July 3rd will mark an internal meeting for the SEC, where top officials will gather behind closed doors to discuss crucial matters related to the lawsuit.
With Ripple having withdrawn its cross-appeal and the SEC expected to follow suit, it seems that the agency’s Commissioner vote on whether or not to dismiss the appeal is now imminent. In a recent post, crypto expert Marc Fagel offered some context regarding the potential for a speedy resolution. He noted that both parties will need to submit formal documents dismissing their respective appeals before the district court’s order takes effect.
Source: bitcoinist.com
