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Highlights
- Marc Fagel dismisses rumors about a July 14 settlement of the Ripple case.
- Fagel asserts that Judge Torres has no more role in the XRP lawsuit.
- The lawyer posits that Gary Gensler was not involved in the XRP lawsuit.
As the clock ticks down for the Ripple vs SEC case resolution, securities attorney Marc Fagel believes that the lawsuit may not wrap up soon. Despite rumors that Judge Torres may end the case before July 14, Fagel tempers expectations, asserting that it won’t happen. Can the Ripple case conclude this weekend?
SEC Lawyer Dismisses Weekend Resolution Rumors
Notably, an X user put forward the possibility of the settlement before July 14. As per their statement, if Judge Torres rules to end the case before July 14, the entire delay would have been related to the ISO process. This speculation suggests that the initial announcement of the case’s end in March was planned to coincide with the ISO in March, but something apparently changed, shifting the timeline to July.
Amid increasing speculation of an imminent settlement in the XRP lawsuit, former SEC lawyer Marc Fagel sets the record straight. According to the lawyer, a weekend settlement is implausible. In an X post, Fagal stated,
Not on a weekend they won’t. It typically takes a month or two for a vote on an enforcement recommendation, so people need to chill. There’s a process.
Marc Fagel’s latest comments reinforce his earlier prediction that the SEC’s appeal process may take one to two months. This timeline suggests that an immediate settlement in the case is doubtful.
However, Fagel disputed the claim, asserting that Judge Torres settling the case before July 14 is highly unlikely since she doesn’t currently have jurisdiction. Previously, as CoinGape noted, Morgan argued that Judge Torres no longer has a role in the Ripple case. He noted, “Considering Judge Torres doesn’t currently have jurisdiction over the case and there is nothing pending before her, this would be quite a trick.”
If Anyone is to Blame It’s Ripple, Adds Fagel
Despite the SEC’s 2020 allegations against Ripple for selling unregistered securities, debate persists over whether Gary Gensler’s leadership played a role in the XRP lawsuit. While an XRP community member claimed to have incurred heavy losses, Morgan denied Gensler’s involvement in the case.
He stated, “The decision to bring the Ripple case clearly had nothing to do with Gensler.”
Moreover, Morgan added that if anyone incurred losses, they should blame Ripple for its unregistered securities sales. He argued that the SEC’s actions were a legitimate part of its regulatory duties.
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