SEC Resists Nonparty Evidence in Ripple XRP Lawsuit as Appellate Proceedings Delay Case Resolution

The U.S. Securities and Exchange Commission (SEC) maintains its firm stance against the inclusion of nonparty evidence in its ongoing lawsuit against Ripple, focusing on whether XRP constitutes a security. The SEC formally opposed an urgent evidence submission by Justin Keener, a third party previously denied intervention rights. The commission argued that the district court lacks jurisdiction due to the ongoing summary judgment appeal before the Second Circuit Court of Appeals, and asserted the evidence would not materially alter the case outcomes. Keener may still provide information directly to Ripple, which could decide to present it if relevant. The case remains in limbo awaiting appellate decisions, with a key update expected on June 16. Both Ripple and the SEC have reportedly agreed in principle to end the legal dispute, but formalities have yet to be concluded. Legal analysts see the SEC’s efforts as moves to keep proceedings streamlined and avoid extended litigation. The lawsuit’s eventual outcome will set important precedents for cryptocurrency regulation in the U.S., directly impacting XRP’s market confidence and influencing the broader digital asset landscape.