Lawyer Bill Morgan has provided an in-depth analysis of the ongoing litigation between the U.S. Securities and Exchange Commission (SEC) and Ripple concerning XRP transactions. After both Ripple and the SEC filed a revised joint motion on June 12, 2025, asking Judge Analisa Torres to lift the injunction, the SEC also requested the Court of Appeals to suspend the appellate process. The court subsequently granted a 60-day pause until Aug. 15, 2025.

Addressing speculation that a decision may be delayed until Aug. 15, Morgan said he expects Judge Torres to rule before then. A delay could restart the appeals process, complicating settlement discussions. He commented on social media platform X this week:

The next update may need to be made well before 15 August 2025. I do not think anyone expects it will take judge Torres that long to rule on the joint motion by the SEC and Ripple filed on 12 June 2025.

The lawyer also addressed a common misconception about who’s responsible for the delays. According to him, Ripple is the main reason the process has dragged on—not the SEC. He explained: “Ripple is the source of the delay. It wants the injunction dissolved. Rather than cause the delay the SEC is actually bending over backwards to help Ripple have the injunction dissolved. Ripple and the SEC would have settled months ago but for Ripple wanting to dissolve injunction.”

Outlining the procedural history, Morgan recapped that Ripple signed the settlement agreement on April 23, 2025, followed by the SEC on May 8, 2025. A motion to pause the appeal and cross-appeal was granted for 60 days, starting April 16, 2025. The parties initially filed a rule 62.1 motion for an indicative ruling on May 8, 2025, requesting Judge Torres to permit them to proceed with the agreed settlement. However, Judge Torres rejected the motion due to procedural deficiencies, specifically because it failed to address rule 60 requirements.

Following this denial, Ripple and the SEC refiled a corrected joint motion under rule 60 on June 12, 2025, which properly addressed the court’s concerns. This new filing prompted the SEC to update the Court of Appeals and request the additional 60-day abeyance period to allow Judge Torres to consider and rule on the motion. The next steps involve obtaining an indicative ruling, seeking a limited remand from the Court of Appeals, and ultimately requesting Judge Torres to dissolve the injunction and approve the $50 million reduced fine. Final dismissal of the appeal and cross-appeal would follow these actions.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。