A key date is approaching in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) – June 16th. This date marks the expiration of a crucial deadline, as the SEC is obligated to submit a status update to the Court of Appeals by then. Legal expert Bill Morgan highlights this significant procedural step, suggesting it might signal upcoming activity in the case. The regulatory body is expected to notify the appeals court of any material developments regarding this deadline’s expiry. 60-day deadline for a status report has arrived after recent court proceedings left unresolved matters requiring appellate review. This could potentially lead to further legal action and progress. The SEC faces pressure due to the dismissal of recent motions, leaving Ripple and the SEC’s future uncertain. The judge’s decision on an indicative ruling – expected soon – could impact how these issues are resolved. While this is a significant development, third-party filings highlighting potential legal challenges to the SEC’s interpretation of the Howey test also raise intrigue. For now, it remains to be seen if either party will submit necessary documents to expedite the case or if Judge Torres will follow through with the indicative ruling and dissolve the standing injunction. This could signal a significant shift in the ongoing litigation. The outcome of this case may not only impact Ripple’s future but also shape regulatory oversight for the cryptocurrency industry as a whole.