Ripple vs SEC: The Legal Tug-of-War That Just Won’t Quit! 😅

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Ah, the never-ending saga of Ripple Labs and the U.S. Securities and Exchange Commission (SEC)—a legal drama that makes soap operas look like a quick episode of a cooking show. In the latest twist, both parties have decided to hit the pause button on their appeals, as if they were playing a game of legal freeze tag. They’ve asked the Second Circuit Court to keep things on ice while they await a decision from the district court. Because who doesn’t love a good cliffhanger? 🎭

In a filing dated June 16, 2025, the SEC, in a move that can only be described as “let’s not rush this,” submitted a status report requesting that the appeals stay on hold until at least August 15, 2025. That’s right, folks—mark your calendars! This is when we’ll get another thrilling update. Meanwhile, Ripple and the SEC are still trying to work out a possible settlement that could change the course of this long-running case. It’s like watching two people trying to agree on a restaurant for dinner—endless negotiations and a lot of eye-rolling. 🍽️

#XRPCommunity #SECGov v. #Ripple #XRP In light of the pending motion for an indicative ruling, the parties have requested that the Second Circuit continue to hold the appeals in abeyance, with the @SECGov to file a status report by August 15, 2025.

— James K. Filan (@FilanLaw) June 17, 2025

Earlier this year, both sides reached an agreement in principle to settle the case, but it’s like trying to get a cat to take a bath—it requires the district court’s approval to modify the final judgment. Under the proposed deal, Ripple would pay a reduced penalty of $50 million, down from a staggering $125 million. Talk about a discount! The remaining funds would be returned to Ripple, and the SEC would graciously agree to lift the injunction against the company. It’s like a legal clearance sale! 🏷️

However, the district court previously denied a motion for this change in May, citing a lack of “exceptional circumstances.” Apparently, “we really, really want this” doesn’t count as exceptional. Since then, Ripple and the SEC have filed a new joint motion on June 12, providing additional reasons—because who doesn’t love a good excuse?—and requesting an indicative ruling from the court.

Until that fateful decision is made, both Ripple and the SEC have come to a mutual agreement: let’s keep the appeals paused. If the district court grants their request, they’ll then ask the Second Circuit for a limited remand to finalize the settlement. It’s like waiting for the next season of your favorite show—will they or won’t they? 📺

On a lighter note, XRP’s price gained 7% and hit a high of $2.34 before doing a dramatic reverse. Now it’s sitting at $2.23, probably contemplating its life choices. Ah, the rollercoaster of cryptocurrency! 🎢

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2025-06-17 06:22