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Ripple and the Securities and Exchange Commission (SEC) have jointly filed a motion to pause the appeal in the long-running lawsuit between the two parties. The move comes as a surprise, especially considering how close the case is to being resolved.
According to former SEC attorney Marc Fagel, who has been following the case closely, the delay could be related to the recent leadership change at the Commission. Fagel suggests that the SEC may have wanted new Commissioner Paul Atkins to vote on the settlement, but having him vote on his first day would have looked bad.
This joint motion by Ripple and the SEC has raised more questions than answers in the cryptocurrency community. What does this mean for the future of XRP? Should we expect a settlement anytime soon?
In an exclusive interview with Coinpedia, Fagel further clarified that the language used in the motion implies that the settlement is contingent upon Judge Torres revisiting the injunctive order. If she refuses to modify it, then the appeal and possibly Ripple’s cross-appeal could still move forward.
The XRP community is now left waiting for an update on the SEC’s approval of the proposed settlement and any potential modifications to the injunctive order.
Source: https://coinpedia.org/news/ex-sec-lawyer-explains-why-ripple-and-sec-filed-motion-to-pause-appeal/
