Pro-Ripple lawyer: "SEC-Ripple settlement not final until court approval"

Minseung Kang

Summary

While a settlement between the SEC and Ripple Labs has effectively been reached, final court approval is still pending.
Both parties agreed to withdraw their appeal and cross-appeal, and stated they are waiting for court approval.
The market does not see the SEC document as an important variable, and investors reportedly believe the case is virtually concluded.

Although a settlement between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs has been effectively reached, it is still awaiting final approval from the court, meaning legal procedures remain.

According to crypto-focused U.S. media outlet Cryptopolitan on the 16th (local time), attorney James Filan stated on X (formerly Twitter), "According to the status report the SEC submitted to the appellate court, both sides have agreed to withdraw their appeal and cross-appeal; however, court approval has not yet been granted." The report details that "both parties jointly submitted an agreement to withdraw their appeal and cross-appeal under the condition that each bear their own costs, and are currently awaiting court approval."

The document was filed on the 15th. Previously, on the 7th, a joint agreement to withdraw was filed, but the process will only be legally finalized once the appellate court gives its approval. In this context, some communities have debated why court approval is required even though the settlement is essentially complete.

The media outlet noted, "The market does not view this SEC document as a significant variable," adding, "Investors believe the case is virtually concluded."

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