Judge Torres Has No Further Role in XRP vs SEC Lawsuit According to Former SEC Attorney

Former SEC Lawyer Clarifies Judge Torres Limited Authority

Former SEC attorney Marc Fagel has clarified that Judge Analisa Torres will have no additional involvement in the ongoing XRP lawsuit proceedings. This statement comes as the cryptocurrency community anticipates a potential settlement between Ripple and the Securities and Exchange Commission.

Appeal Dismissal Process Will Activate Previous Ruling

According to Fagel, Judge Torres' previous order against Ripple will automatically take effect once both parties formally drop their appeals. The former SEC lawyer emphasized that the judge has no further role in this process beyond her initial ruling.

Fagel explained that while Ripple CEO Brad Garlinghouse has announced the dismissal of Ripple's cross-appeal against the SEC, the company has not yet officially filed the necessary paperwork. The former attorney noted that despite community discussions about the appeal dismissal, no formal filing has appeared on the court docket.

Both Parties Expected to Drop Appeals

The former SEC lawyer expressed confidence that both parties will ultimately dismiss their appeals, stating they "100% will" drop them. He clarified that once these dismissals are filed, the district court's ruling against Ripple will become effective without requiring additional approval from Judge Torres.

Fagel emphasized that neither party has currently filed to dismiss their appeals, but the eventual dismissal appears inevitable based on recent developments in the case.

SEC Meeting Unlikely to Impact Ripple Case

Speculation arose regarding a scheduled SEC private meeting and its potential impact on the XRP lawsuit. However, Fagel dismissed these rumors, characterizing the meeting as a routine weekly session rather than a special proceeding related to the Ripple case.

The former attorney explained that SEC meeting agendas are typically set well in advance, making it highly unlikely that the Ripple case would suddenly appear on the agenda. He noted that it usually takes several weeks for matters to be scheduled for SEC votes.

Settlement Timeline Could Extend for Weeks

While Fagel predicts that the appeal dismissal and potential settlement in the Ripple vs SEC case may take weeks or longer, he acknowledged that an expedited process remains possible. The basis for potential acceleration stems from the SEC having already voted once before to dismiss their appeal.

The former SEC lawyer noted that the SEC approval process typically requires several weeks or even months to complete. However, the previous vote for dismissal could potentially streamline the current proceedings.

Legal Implications of Appeal Dismissals

The dismissal of appeals would mark a significant milestone in the XRP lawsuit that has lasted several years. Once both parties formally drop their appeals, the district court's original ruling will stand as the final judgment in the case.

This development would effectively end Judge Torres' involvement in the case, as her role was limited to presiding over the initial proceedings and issuing the contested ruling.

Market Impact and Community Response

The XRP community has been closely monitoring these legal developments, as the case outcome could significantly impact the cryptocurrency's regulatory status and market position. The clarification about Judge Torres' limited role provides insight into the final stages of this landmark case.

Industry observers note that the formal dismissal of appeals would bring closure to one of the most closely watched cryptocurrency regulatory cases in recent years.

Next Steps in the Legal Process

With both parties expected to file appeal dismissals, the focus now shifts to the timing and formalities of these filings. The cryptocurrency community and legal experts will continue monitoring court dockets for official documentation of these dismissals.

The resolution of this case could set important precedents for how other cryptocurrency projects are regulated and classified by federal authorities.