Ripple and SEC file joint motion to halt XRP lawsuit appeals
Ripple Labs and the US Commission on Securities and Exchange jointly asked the second Circuit Court of Appeals to suspend their current legal disputes, suggesting that full settlement could soon be concluded.
The request, filed on April 10 and publicly shared by lawyer James Filan on X, shows that the two parties have reached an “agreement in principle” to resolve the case. This includes the original call of the dry and ripple (Xrp) Cross-appeal, deposited last October. The request is always subject to the approval of the SEC commissioners. Within 60 days of approval, the SEC will update the court on the state of the case.
The Sec has accused Ripple of having sold XRP as security not registered in December 2020. This sparked a major legal dispute between the two. Since then, he has become one of the most widely followed judicial affairs in the industry. In a historic decision of 2023, the court determined that the institutional sales of Ripple did not violate the laws on securities, but the sales of XRP on public exchanges have done so. This gave Ripple a partial victory.
While the two parties had noted Last month, a regulation was likely, the request on suspense on break had only just submitted. No reason has been given for the delay. The request also covers unresolved complaints against undulation leaders and effectively stops all legal activities during the finalization of the regulations.
Ripple should pay a reduced civil fine of approximately $ 50 million, significantly lower than the original proposal of $ 125 million. If that approvedThe Ripple regulation may have an impact on how digital assets are regulated in the future and how cryptocurrencies are treated under US law.
The announcement occurs just before Paul Atkins, a new president of the Dry Pro-Crypto, takes office after receiving the Senate approval April 9. Atkins, renowned for its balanced position on digital assets, should guide the agency to a clearer regulatory framework.
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