Ripple and SEC: The Never-Ending Saga Takes a Hilarious Turn 🤣

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Out in the vast, digital plains where cryptocurrencies roam, a curious event has unfolded. James K. Filan, a name that’s become synonymous with the Ripple-SEC saga, has brought us the latest tidings. Both Ripple and the SEC, like two old ranch hands who’ve been feuding over a fence line, have once again asked the court for an indicative ruling. You might remember that back in May, Judge Torres, with a stern look and a firm hand, denied their previous request, saying, “If I had the power, I wouldn’t give it to you because you didn’t ask nicely the first time.”

Now, in a twist that could only happen in the wild west of crypto, the two parties are trying to tie up this loose end once and for all. They’ve filed a motion in Manhattan federal court, aiming to dissolve the injunction and release the $125 million civil penalty that’s been sitting in escrow, like a pot of gold at the end of a long, dusty trail. The motion, filed under Federal Rules 60(b)(6) and 62.1, argues that “exceptional circumstances” warrant a second look, citing the SEC’s shifting moods and a mutual desire to avoid more legal wrangling.

The proposal is as straightforward as a straight shot from a six-shooter: $50 million to the SEC and $75 million back to Ripple. It’s a deal that might just bring peace to the valley, or at least a temporary truce.

Former SEC official reacts

Enter Marc Fagel, a former SEC official who’s seen his fair share of legal showdowns. Fagel took to the social media platform X to offer his two cents on the joint motion:

They have an appeal pending. The whole point of this motion is the parties trying to avoid going forward with the appeal.

— Marc Fagel (@Marc_Fagel) June 13, 2025

It’s like they’re trying to call a truce before the final showdown, Fagel noted. “They have an appeal pending. The whole point of this motion is the parties trying to avoid going forward with the appeal.” It’s a move that highlights the changing winds in the regulatory landscape, with both sides seemingly tired of the long, drawn-out battle.

The lawsuit, which began in December 2020, accused Ripple of conducting $1.3 billion in unregistered XRP sales. A court-approved final settlement would not only clear the air but also add to the already high demand for XRP, like a sudden gold rush in the digital age.

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2025-06-13 17:50