Ripple Case vs Coinbase Complexity

According to Fox Business reporter Eleanor Terrett, the proceedings in the Ripple case are more complex compared to Coinbase. This is because there is already a court order from Judge Torres at the district level to pay the $125M penalty.

Will SEC Drop Appeal At Second Circuit?

She noted that Judge Torres will oversee the case until August 7, 2025, to ensure the penalty is paid. Furthermore, there is speculation that the SEC might drop the appeal at the Second Circuit, while needing to manage the penalty ruling in the district court. They could negotiate to reduce or remove the penalty, but Judge Torres’s approval would be crucial for any changes.

> 🚨NEW: On @Ripple, as @CherryEmpress21 notes, it’s more procedurally complex than @coinbase because they already have an order from Judge Torres at the district level to pay the $125M penalty.
>
> Torres, according to the final judgment, will retain jurisdiction over the case for a… source
> — Eleanor Terrett (@EleanorTerrett) February 21, 2025

A degree of uncertainty persists, as one legal source remarked, “We are in uncharted territory right now.”

SEC Lawsuit Against Coinbase to Conclude?

A recent update indicated that the U.S. Securities and Exchange Commission (SEC) is poised to drop its lawsuit against Coinbase, pending approval from the agency’s commissioners. If finalized, this could be a significant legal victory for the cryptocurrency industry, marking a turning point in future regulations.

According to Coinbase’s Chief Legal Officer, the SEC will soon vote on a deal to dismiss the case against them. A successful vote wouldn’t just clear Coinbase of legal troubles; it could establish a precedent for other cryptocurrency businesses facing similar regulatory challenges.

Ripple vs SEC May End Soon?

Despite ongoing challenges, the XRP community holds optimism that the long-running lawsuit between Ripple and the U.S. SEC might soon conclude. This optimism arises from the SEC’s recent openness to consider XRP exchange-traded funds (ETFs). Experts suggest this shift indicates that the lawsuit may no longer be pertinent or a significant concern.

On Thursday, the SEC acknowledged the NYSE’s application to list Grayscale’s XRP ETF, marking an essential step in the approval process. This acknowledgment is crucial as it signals the SEC’s potential openness to considering an XRP ETF rather than outright rejection.

XRP ETF Acknowledgment Raises Hopes

Bloomberg analyst James Seyffart explained that under previous leadership, the SEC would have likely denied the XRP ETF application, particularly after rejecting a similar application for Solana in December. He believes this new development marginally enhances the chances of the ETF’s approval.

This change indicates a shift in the SEC’s strategy under new leadership. Nate Geraci, co-founder of the ETF Institute, highlighted that this SEC acknowledgment could significantly impact its ongoing case against Ripple.