What will happen in the US SEC case against Ripple on August 15?

XRP is gaining momentum thanks to growing institutional adoption fueled by speculation about exchange-traded funds (ETF).

At the same time, market participants continue to monitor the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC).

The lawsuit, filed back in December 2020, is approaching another major milestone, as the SEC is scheduled to provide the appellate court with information on the status of the dispute on August 15.

The crux of the issue is whether the sales were XRP company Ripple unregistered offering of securities.

A 2023 ruling by U.S. District Judge Analisa Torres found that institutional sales do qualify as securities, while sales to retail investors on various exchanges do not.

To speed up the completion of the case, Ripple withdrew its appeal of the judge’s ruling, but lawyers for the Securities and Exchange Commission have not yet done so.

Judge Torres also rejected the agreement between the SEC and Ripple, which provided for a reduction in the penalties and the lifting of the injunction, which added further uncertainty to the case.

A deadline is looming to update the procedural rules, although former SEC lawyer Mark Feigel believes the appeals could be dismissed by then.

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