The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may see a notable procedural step in the coming weeks. Legal expert and XRP advocate Bill Morgan has drawn attention to June 16, the date when the SEC’s 60-day deadline to submit a status update to the Court of Appeals will end. This report deadline stems from earlier court proceedings that left unresolved matters requiring appellate review. According to Morgan, the expiration of this window could signal upcoming activity in the case, as the regulatory body is expected to notify the appeals court of any material developments. I was expecting some filing in the SEC v Ripple case given what happened to the last motion that was dismissed two weeks ago, especially given that the 60 day period which the parties have before the SEC is required to file a status report with the court of appeals expires on 16… pic.twitter.com/I250sVGKLx — bill morgan (@Belisarius2020) May 29, 2025 Background and Procedural Update The status report obligation arises in the context of a broader legal process following the dismissal of recent motions. Most notably, Judge Analisa Torres denied both Ripple and the SEC’s joint request for an indicative ruling, classifying the motion as procedurally inappropriate. Indicative rulings allow trial courts to express whether they would grant a motion if the appellate court were to remand the case. In this instance, the parties sought to resolve issues regarding a long-standing injunction and the distribution of escrowed funds. With Judge Torres declining to issue a position on the matter, future procedural steps will depend on whether the parties resubmit a properly formatted request. Unusual Filing Highlights Courtroom Tensions While developments from the primary parties are anticipated, an unexpected filing recently surfaced in the court docket. Bill Morgan noted the submission of a lengthy statement by a third party criticizing the application of the Howey Test, a legal standard used to determine whether an asset qualifies as a security. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 The filing, which reportedly spans several pages, argues against judicial interpretations of the term “investment contract” and challenges the SEC’s use of the Howey test. Although unlikely to influence the outcome of the case, the document underscores the broader tensions and public interest surrounding the litigation. What Could Happen Next? If a properly submitted motion for an indicative ruling is accepted, Judge Torres would then need to clarify whether she would dissolve the standing injunction. This step is essential for the parties to proceed with requests involving the distribution of funds; $50 million would be transferred to the SEC, while the remainder would be released back to Ripple. Following a favourable indicative ruling, both parties are expected to jointly request a limited remand from the Second Circuit Court of Appeals. If granted, Ripple and the SEC would return to Judge Torres’ court to formally seek the agreed-upon relief. Once those conditions are fulfilled, the appellate court could dismiss both the SEC’s appeal and Ripple’s cross-appeal, effectively concluding the current phase of litigation. As June 16 approaches, all eyes remain on whether the SEC will file its update and whether either side will submit the appropriate documents to move the case forward. The outcome will not only influence Ripple’s operational future but may also set precedents for regulatory oversight in the broader cryptocurrency industry. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple vs. SEC: Legal Expert Pinpoints Crucial Date For XRP Holders to Watch appeared first on Times Tabloid .
