The future of cryptocurrency regulation in the United States could unfold in the coming months, and the Ripple case is at its core. Indeed, the filing of a new appeal by the Securities and Exchange Commission (SEC) on October 2, 2024, in its lawsuit against Ripple Labs reignites the debate over the legal status of cryptocurrencies. Following an initial ruling in favor of Ripple in 2023, this appeal reshuffles expectations, as the upcoming decision could redefine the rules of the game for the entire ecosystem.