Ripple and SEC File Joint Motion to Stay Appeals
The filing could be the finale to a high-profile dispute that has plagued the emerging payments industry since December 2020 over the sale of XRP tokens.
Author: Shaurya Malwa | Edited by: Sam Reynolds Updated: April 11, 2025, 3:33 PM Published: April 11, 2025, 5:20 AM
Basic information:
- Ripple Labs and the SEC have requested a stay of appeals to finalize a potential settlement.
- The case has become key in discussions about the legal status of cryptocurrencies in the United States.
Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly requested a stay of their appeals to finalize a possible settlement, according to a filing Thursday.
The filing could bring to an end a high-profile dispute that has plagued the growing payments industry since December 2020 over the sale of XRP tokens, which the SEC says constitute unregistered securities.
#XRPCommunity #SECGov vs. #Ripple #XRP The parties have filed a joint motion to stay the appeal based on the parties' settlement agreement. The settlement is pending approval by the Commission. No brief will be filed on April 16. pic.twitter.com/OVKPCIh43H
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) April 10, 2025
The case has sparked debate about the regulatory status of cryptocurrencies in the United States, with Ripple arguing that XRP is a currency, not a security, and therefore not subject to the SEC's jurisdiction.
Ripple and the SEC have reached an “agreement in principle” to resolve all outstanding issues, according to information released by attorney James Fylan.
This includes not only the SEC's appeal of the district court's final decision, but also Ripple's cross-appeal and lawsuits against Ripple founders Brad Garlinghouse and Chris Larsen.
The motion asks the court to stay the appeal process, effectively freezing it, until the parties agree on final terms of a settlement, which still must receive formal approval from SEC commissioners.
This comes after a similar request from the SEC and Gemini in early April, when both sides asked the court to allow a two-month pause to finalize a deal to settle their long-running legal dispute over Gemini's Earn program.
