- Ripple and the SEC have requested to pause their appeals, signaling a potential resolution to their years-long legal battle.
- The final agreement still requires approval from the SEC commissioners, with hopes for an end to the dispute soon.
The long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) appears to be reaching its closing act. In a surprising move, both parties have jointly requested the U.S. Court of Appeals for the Second Circuit to hold their respective appeals in abeyance—essentially hitting the pause button.
The reason? Ripple and the SEC have reportedly reached an “agreement-in-principle” that could pave the way for a final resolution. While full details of the agreement have yet to surface, one key condition remains: approval by the SEC commissioners. This crucial step will determine whether this highly publicized lawsuit finally comes to a close.
From Courtroom Drama to Potential Closure
This development comes on the heels of a dramatic shift in late March when Ripple dropped its cross-appeal. In return, the SEC agreed to slash the fine it was seeking and even requested the court to dismiss its proposed injunction against XRP. As a result, Ripple no longer needs to file the legal brief originally due on April 16.
The SEC also confirmed in March that it would not proceed with its appeal, signaling a mutual willingness to settle.
Meanwhile, in a related but separate courtroom moment, the SEC has opposed an emergency motion by Justin W. Keener, who attempted to submit last-minute evidence. The agency is clearly keeping its focus on wrapping up the XRP case with minimal distractions.
A Turning Point for Crypto Regulation?
The SEC first sued Ripple in December 2020 under the leadership of former chairman Jay Clayton, claiming XRP was an unregistered security. The case quickly became a landmark legal showdown with massive implications for the entire cryptocurrency industry.
With both sides now seeking to suspend appeals and potentially end the dispute, the outcome could mark a new chapter in how U.S. regulators engage with blockchain companies.
Is this truly the end of one of crypto’s most high-stakes legal battles? All eyes are now on the SEC commissioners—and the potential ripple effect this resolution could have across the digital asset world.
