The U.S. Securities and Exchange Commission (SEC) has formally requested the U.S. Court of Appeals for the Second Circuit to pause all appeals in its ongoing lawsuit against Ripple until August 15, 2025. This move aims to facilitate a potential resolution between the parties, potentially delaying final clarity on XRP’s regulatory status.
In a joint filing, Ripple and the SEC renewed their motion to dissolve the injunction in the Final Judgment. They also proposed releasing $50 million from the $125 million civil penalty escrow account, signaling collaborative efforts toward settlement discussions.
Market reaction saw XRP trading near $2.24, reflecting a nearly 4% price increase over the past 24 hours. This uptick suggests investor optimism regarding the legal developments and the prospect of reduced litigation uncertainty.
Legal expert James K Filan highlighted the significance of the SEC’s request to hold appeals in abeyance pending a district court ruling. This procedural step indicates cautious progress toward resolving the long-standing dispute, though finality remains months away.
The lawsuit’s outcome holds broader implications for cryptocurrency regulation, potentially influencing how regulators approach other digital assets and shaping future compliance frameworks across the crypto market.