5-8-2025 – The dismissal of the SEC’s appeal in the Ripple lawsuit remains stalled as questions persist over whether new SEC Chair Paul Atkins requires a fresh commission vote to formally end the case, according to legal experts tracking the proceedings.

Former SEC attorney Marc Fagel explained that the current delay stems from a failed settlement attempt earlier this year. Ripple and the SEC had proposed terms that required the court to remove an injunction and reduce the company’s penalty, but the court rejected that arrangement. This forced both parties to restart the dismissal process from the beginning, rather than proceeding with the original court ruling that would have ended the appeal months ago.

Attorney Bill Morgan questioned whether Atkins can secure the necessary commissioner votes to dismiss the appeal, noting confusion over whether a previous vote under the former SEC leadership already authorized full dismissal. Fagel suggested the ongoing delay indicates that prior authorization was likely insufficient, making a new vote necessary under the current commission structure.

The procedural uncertainty has frustrated legal observers who note the SEC’s quicker resolution of cases against other crypto companies like Coinbase. Despite both parties appearing ready to conclude the matter, the internal approval process at the SEC has created a holding pattern that keeps the legal proceedings technically active.