The U.S. Securities and Exchange Commission and Ripple Labs have filed a joint status update seeking to extend the pause on appellate proceedings.
The parties jointly requested the Second Circuit Court of Appeals leave the stay in place until the district court issues its final ruling. The request specifically aims to maintain the pause while proceedings related to remedies before the district court continue.
This move highlights the persistent regulatory focus on Ripple and the classification of its XRP digital asset. The legal dispute serves as a closely watched precedent regarding the application of securities laws to cryptocurrencies.
Market analysts and industry participants continue to monitor the case’s progression due to its significant potential implications for future digital asset regulation in the United States.