Ripple and SEC Agree to Temporarily Pause Legal Appeals to Finalize Agreement Terms
In the midst of their legal tussle, Ripple Labs and the US Securities and Exchange Commission (SEC) have asked the courthouse to postpone their appeals as they actively negotiate a resolution. This appeal pause, filed on April 10, 2025, hints at significant progress in ending this prolonged legal duel that commenced back in 2020.
The joint motion is hoping to put the appeals on hold until Ripple and the SEC manage to finalize a deal. Both parties have agreed in principle to iron out all lingering disagreements, including the SEC's appeal of the court's previous ruling, Ripple's counter-appeal, and legal action targeting Ripple executives Brad Garlinghouse and Chris Larsen.
Legal eagle James Filan casually dropped the update on April 10, 2025, reassuring the public that the agreement covers every aspect of the case. Any finalized deal would require formal approval from the SEC's commissioners.
The case unfolded in December 2020 when the SEC accused Ripple of flouting regulations by distributing XRP tokens as unregistered securities. Ripple has always maintained that XRP shouldn't be considered a security but a digital currency, thereby evading the SEC's watchful eye.
The case has served as a focal point for broader discussions surrounding crypto regulations in the US, with players within the crypto industry observing the situation closely for its potential implications.
Prior to this, the SEC and Gemini also made a similar request to halt their court proceedings while they worked towards a much-needed settlement in their prolonged legal battle over Gemini's Earn program in April of 202513. This pattern suggests that both regulators and crypto companies might prefer settling disputes through negotiations rather than engaging in lengthy court battles.
- In light of the ongoing negotiations for a resolution, Ripple Labs and the SEC have agreed to temporarily halt their appeals, allowing time to finalize a deal involving securities, finance, and technology business matters.
- The joint motion filed on April 10, 2025, includes discussions about resolving lingering disagreements, such as the SEC's appeal of the court's previous ruling, Ripple's counter-appeal, and legal action targeting Ripple executives Brad Garlinghouse and Chris Larsen.
- The proposed agreement aims to cover every aspect of the case, including the alleged violations of securities regulations related to the distribution of XRP tokens.
- Prior to this, the SEC and Gemini also decided to halt their court proceedings to work towards a settlement, hinting at a possible trend of crypto-related business disputes being resolved through negotiations rather than court battles.
