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By Shaurya Malwa|Edited by Sam Reynolds
Apr 11, 2025, 5:20 a.m.
- Ripple Labs and the SEC have requested a pause in their appeals to finalize a potential settlement.
- The case has been central to debates over the regulatory status of cryptocurrencies in the U.S.
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly requested a pause in their respective appeals to finalize a potential settlement, per a motion filed on Thursday.
STORY CONTINUES BELOW
The filing signals a possible end to a high-profile dispute that has gripped the payments upstart industry since December 2020 for its sale of XRP tokens, which the SEC alleged were unregistered securities.
The case has been a focal point for debates over the regulatory status of cryptocurrencies in the United States, with Ripple arguing that XRP is a currency, not a security, and thus outside the SEC’s jurisdiction.
Ripple and the SEC have reached an “agreement in principle” to resolve all outstanding issues, per a post shared by attorney James Filan.
This includes not only the SEC’s appeal of the district court’s final judgment but also Ripple’s cross-appeal and the claims against Ripple founders Brad Garlinghouse and Chris Larsen.
The motion requests that the court hold the appeals process in abeyance — effectively pausing it — while the parties hammer out the final terms of the settlement, which still requires formal approval from the SEC’s commissioners.
This follows a similar request from the SEC and Gemini in early April, where the two parties requested the court approve a two-month pause to finalize a deal to close their long-running legal dispute over Gemini’s Earn program.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
