Ripple vs. SEC Nears Final Stage – What’s Next for Ripple if No Appeal?
The long-running legal case between Ripple and the U.S. Securities and Exchange Commission (SEC) is approaching a critical moment. As the Oct. 7 appeal deadline approaches, the Ripple vs. SEC lawsuit could soon reach its conclusion, potentially closing a chapter that has long impacted Ripple and the crypto industry.
No Appeal in Sight as Ripple vs. SEC Lawsuit Closes In
Zach Rector, an active figure in the XRP community, outlined several developments that will shape Ripple’s future. He noted that the lawsuit will officially end if neither Ripple nor the SEC files an appeal by Oct. 7. Closing this multi-year legal battle would remove regulatory uncertainty and set Ripple up for its next big moves.
Zach Rector details the climax of the XRP lawsuit. Source: X
Ripple plans to move forward with major initiatives around the same time as its Swell conference, scheduled for Oct. 14-16. Rector highlighted that if the lawsuit ends, Ripple will likely unveil its long-awaited stablecoin, RLUSD, during the event. The legal win could fuel more projects, pushing Ripple closer to expanding its ecosystem.
Stablecoin Launch and XRP ETF Speculation
Ripple’s RLUSD stablecoin, currently in beta testing on the XRP Ledger and Ethereum networks, is expected to launch in the coming weeks. This rollout could occur during the Ripple Swell conference, where major announcements on tokenization projects and partnerships are also anticipated.
Ripple Swell 2024: Miami, Oct. 15-16. Source: X
Additionally, Rector speculated that he expects a potential XRP ETF announcement at the Ripple Swell conference. Since the SEC approved the launch of spot-based ETFs for Bitcoin and Ethereum, there have been speculations that top asset managers could launch a similar XRP product.
This speculation soared recently after Grayscale launched the XRP Trust, a closed-end fund expected to transform into a spot-based crypto ETF. Nonetheless, the ongoing lawsuit between the SEC and Ripple poses regulatory challenges for XRP.
Ripple’s Swell conference will feature Northern Trust and Archax leaders, highlighting Ripple’s focus on tokenization. Analyst Zach Rector believes Ripple may announce new partnerships for tokenizing assets, with projections of up to $50 trillion in assets on the XRP Ledger.
He stated the event offers Ripple a chance to showcase its role in the future of digital assets and tokenization, positioning it for growth.
Congressional Scrutiny of SEC Chair Gensler
Meanwhile, U.S. Congressman Tom Emmer has publicly criticized SEC Chair Gary Gensler for handling the XRP lawsuit. In a Congressional hearing, Emmer stated that Gensler’s tenure as SEC Chair has been historically destructive, particularly concerning crypto regulation.
Emmer slams Gensler’s crypto regulation leadership. Source: Eleanor Terret/X
Speculation about whether the SEC will appeal the XRP ruling continues. Social media commentators like Jack The Rippler suggest that no appeal is likely, pointing to the Oct. 7 deadline.
As the Oct. 7 appeal deadline nears, the Ripple vs. SEC lawsuit approaches its conclusion. If no appeal emerges, Ripple will move forward with its stablecoin launch and explore XRP ETF options. Ripple plans to announce new tokenization projects during its Swell conference, shaping its next phase.
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