There is another chapter unfolding in Ben's long-running legal struggle ripple And the Supreme Education Council. In its latest appeal, the regulator insists that the district court erred in ruling on crucial elements of the case. According to the Securities and Exchange Commission, XRP Token offers and sales must meet the profit expectation requirements of the Howey test.

Additionally, it claims the district court incorrectly concluded that non-cash transactions involving XRP did not constitute an investment of funds under the same test. The appeal seeks to overturn the court's summary judgment and final ruling on Ripple's sales to retail buyers.

For Ripple's Legal Director, Stuart AldrotyThis move seems to be more of the same. He believes the SEC's arguments are repetitive and unconvincing, and their relevance diminishes as the regulatory landscape shifts.

"I nap in the morning"

The clock is ticking for SEC chief Gary Genslerwho is set to step down soon — a departure eagerly anticipated by many in the cryptocurrency industry. Gensler's tenure has been defined by a strict, enforcement-heavy approach to regulating digital assets. Ripple and others hope that era is coming to an end.

With a change in leadership on January 20, optimism began to brew. Ripple, like many, is anticipating the potential of this new chapter in regulation, even as the current issue remains unresolved.

The expectation is not leniency but a shift to a more positive and pro-innovation regulatory environment. Ripple's leadership envisions a reset where the focus shifts from litigation to collaboration, and from implementation to growth.

Issues not related to fraud should be set aside as we move toward a new approach, Aldroti says. He says we need to move quickly to resolve the arguments that persist, so the industry can move forward with clearer and more predictable rules.