"Ripple and SEC Jointly Request to Halt Appeal... Is the Lawsuit Concluding?"

Minseung Kang

Summary

Ripple and the SEC have reportedly halted the appeal process and are coordinating settlement terms.
The halt of the appeal suggests that the four-year legal battle is effectively nearing its conclusion.
The court is expected to announce an official update within the next 60 days.

The U.S. Securities and Exchange Commission (SEC) and Ripple have reportedly submitted a joint request to temporarily halt the appeal process and finalize the terms of their settlement.

On the 11th, cryptocurrency-focused media outlet Cointelegraph reported via X (formerly Twitter) that "both parties have submitted a joint application to the court to halt the appeal process."

On the same day, Crypto Times, another cryptocurrency-focused media outlet, stated, "This request to halt the appeal suggests that the four-year legal battle between Ripple and the SEC is (in effect) nearing its conclusion," adding, "The settlement between the two parties could be completed within the next few weeks, and the court is likely to announce an official update within 60 days."

Previously, in 2020, the SEC filed a lawsuit against Ripple for selling unregistered securities. Subsequently, the SEC lost part of the lawsuit and filed an appeal.

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