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The U.S. Second Circuit Court of Appeals announced a new phase in the long-standing legal battle between Ripple 
$2 and the Securities and Exchange Commission (SEC). At the request of both parties, the court has decided to suspend the appeal process for 60 days. This decision aims to provide a formal space for ongoing settlement discussions, with the SEC expected to submit a detailed status report by June 15.
Court Ruling and Suspension of Process
In March, the SEC publicly announced its intention to withdraw from the appeal process against Ripple. Immediately following this development, Ripple took steps to withdraw its counter-appeal. Ripple’s CEO, Brad Garlinghouse, stated on social media, “I can now announce that the case has come to an end; the process is complete.”
The court’s 60-day suspension is not merely a technical waiting period but is viewed as a strategic move to accelerate resolution efforts. It is expected that new rounds of negotiations will take place at the end of this period, potentially clarifying future actions for both Ripple and the SEC.
Past decisions determined that Ripple’s sales of XRP to institutional investors were in violation of regulations, while similar transactions with individual investors were not seen as violations. This distinction indicates that many contentious issues between the two parties remain unresolved.
Settlement Efforts and Impacts of the New Phase
Throughout the lengthy case, both parties had occasionally engaged in informal settlement attempts. However, this latest development suggests that negotiations will now proceed on a more official and concrete basis. The 60-day pause is viewed as a significant turning point both legally and strategically.
The SEC’s new management approach also directly affects this process. It has been reported that the agency is withdrawing from certain cases and reevaluating penalties. This situation is interpreted as the SEC adopting a more flexible stance, particularly concerning the Ripple case.
There are still various legal issues between the parties that remain unresolved. The goal is to discuss these issues in detail during the 60-day period and to create lasting solutions. The court believes that at the end of this process, the parties can reach a more clear and consistent agreement.
