The long-published incident of the US Stock and Value Committee against Ripple Labs appears to be coming to an end. However, the new document presented by the SEC before the U.S. Court of Appeals in the Second Circuit serves as a significant reminder. Despite the parties’ agreement, the final verdict remains behind the court’s decision.
The documents presented by the regulatory body are state reports that are repeated by both the SEC and Ripple. They have reached an agreement to dismiss the appeal.. This move does not close the tenderloin of the lawsuit, although it is a positive and expected sign.
The joint dismissal provisions presented by the parties on August 7th are “still pending,” according to the documents. This form is necessary for the Court of Appeal to legally conclude the case. This is a step that the XRP community and investors have been waiting with concern.
The optimism surrounding this contract is understandable. The market responded positivelyXRP prices are experimenting with a notable rebound between August 7th and 8th. The next day I lost my impulse but it is maintained at USD 3 per unit.
Despite the expectations of the footprints taken by the SEC and Ripple, the history of the cases teaches that these do not always align with the rhythm and procedures of the judicial system. Cryptonoticias reported in June that Judge Annalisa Torres rejected a ripple-like joint move with the SEC, reducing the $125 million fine imposed on the company and resolving a permanent court order.
The current situation is different, but the need for court to approve is an inevitable step, as it is not about changing the fine or resolving the order. The document presented by the SEC on August 15th was Waiting for the Court of Appeal to formally approve the dismissala process that can take days or weeks.
Thus, the crypto world celebrates what appears to be the end of a dispute that has been extended for almost five years, but the resolution will not be completed until the final order of the court is issued. The wait continues, but everything shows that this long, legal chapter is coming to an end.