If ever two rivals stood on the courthouse steps holding their breath and waiting for someone to blink, it’s Ripple and the SEC—both now asking for a great and mighty Pause Button as they shuffle their feet, itching to bring the XR(Please Let This End)P saga to a close. Even the lawyers look tired. 😴💼
SEC and Ripple Play the Waiting Game, Hoping The Court Will Say ‘Fine, Go Home!’
June 16th, a date that might’ve seemed lively in a novel but was, in reality, just another Tuesday in the legal minefield. There stood the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, arm in reluctant arm, shuffling more paperwork off to the U.S. Court of Appeals like two kids asking a teacher for extra recess because gym class is “technically still in session.” All they want, for the love of Supreme Procedures, is for the court to keep their precious appeals on ice while the district court sits in judgment over their proposed fix-up to the XRP mess. XRP still waits for its fairy-tale ending, apparently.
SEC appellate counsel Ezekiel L. Hill (a name best suited to the dusty roads of a Steinbeck novel) dropped a status report that might as well have said: “Nothing new, but we’re still talking, so please don’t make us go back to the appeals court just yet.” This was right on the heels of a previous order forcing both parties to act less like cats fighting in a burlap sack. The agreement? To keep everything paused, like a Netflix drama that nobody wants to finish but can’t quite abandon. The court kindly set a reminder for August 15, 2025—to “check back later.” Call it jurisprudential procrastination.
“The parties are in agreement that this Court should continue to hold the appeals in abeyance, with the Commission to file a status report by August 15, 2025.”
On May 8, after the SEC layered the appropriate rubber stamps, Ripple agreed (with clenched teeth and a checkbook, one imagines) to pay the SEC $50 million of the towering $125,035,150 penalty—proving that in legal poker, sometimes it’s cheaper to fold. The rest returns to the company, tail between its legs, and the dreaded injunction would be dissolved if—big if—the district court is in the mood to grant the requested changes.
That very day (for the world of lawyers waits for no one), both sides tiptoed to the district court, asking for an “indicative ruling”—basically, “Would you say yes if we asked you nicely?” Unfortunately, on May 15, the judge stomped their hopes, denying the motion and quoting rules about “exceptional circumstances.” It’s almost like the judge just wanted Ripple and the SEC to learn a hard lesson before summer break.
Undeterred, the squads renewed their plea on June 12, this time presumably with more legal footnotes and fewer hopes, determined to tick enough boxes to satisfy any judge, no matter how stern. The status report now admits: they’re all just waiting for the district court to make a move.
If at last the modifications are allowed, Ripple and the SEC will ask for a brief detour back to the appellate court to tie up loose ends. If the final judgment is edited to everyone’s liking, each side will drop their appeals faster than a hot potato. Until then, legal purgatory continues. Forget the blockchain—the real action is stuck in a procedural loop. The next thrilling update: August 15, 2025. Set your calendars, but don’t hold your breath. 📅😅
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2025-06-18 05:00