Ripple and SEC Lawsuit Nears Critical Deadline Amid Ongoing Legal Battle

According to PANews, the cryptocurrency community is closely monitoring the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple, hoping for a resolution to the long-standing XRP case. Ripple has withdrawn its appeal, but the SEC has not followed suit. Legal expert Bill Morgan notes that while the SEC does not have a fixed deadline to withdraw its appeal, it must submit a report to the appellate court by August 15, 2025. New developments are anticipated in the coming weeks. The central issue in the case is whether Ripple's sale of XRP constitutes an unregistered securities transaction. In 2023, a judge ruled that institutional sales of XRP were securities transactions, while programmatic sales on exchanges were not. Although both parties reached a settlement, it was rejected by the judge.