The Ripple vs SEC lawsuit sees a significant procedural update as appeals are postponed until August, marking a pivotal moment in the ongoing XRP legal battle.
This delay follows a joint request by both parties amid efforts to resolve the case, reflecting shifts in regulatory approaches and potential impacts on the cryptocurrency market.
Legal expert James K Filan highlighted on X that the SEC has formally asked the U.S. Court of Appeals for the Second Circuit to hold appeals in abeyance pending a district court ruling, signaling cautious progress in the dispute.
Ripple SEC case update: Appeals delayed until August, impacting XRP lawsuit timeline and market outlook with potential regulatory clarity ahead.
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The U.S. Securities and Exchange Commission (SEC) has filed a status report requesting the U.S. Court of Appeals for the Second Circuit to pause all appeals related to the Ripple lawsuit until August 15, 2025. This procedural hold is a direct consequence of the parties’ agreement to seek an indicative ruling from the district court under Rule 60, aiming to modify the final judgment. The delay underscores the complexity of the case and the strategic moves by both Ripple and the SEC to potentially settle the dispute without prolonged litigation. This development is crucial as it temporarily halts appellate proceedings, providing room for a possible resolution that could reshape regulatory precedents for cryptocurrencies like XRP.
On June 12, Ripple and the SEC jointly renewed their motion to dissolve the injunction embedded in the Final Judgment and proposed releasing $50 million from the $125 million civil penalty escrow account. The remaining funds would be returned to Ripple. This motion reflects a significant shift in the SEC’s stance on cryptocurrency enforcement, possibly influenced by evolving crypto policies and a mutual interest in avoiding protracted legal battles. Legal analysts emphasize that Judge Analisa Torres’ forthcoming decision on this indicative ruling will be pivotal, with expectations of a ruling imminently. The outcome could set a precedent for how securities laws apply to digital assets, influencing future regulatory frameworks.
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Source: https://en.coinotag.com/ripple-xrp-lawsuit-appeals-may-face-delay-until-august-amid-ongoing-sec-case-developments/