Court Asked to Pause Ripple SEC Appeals As They Discuss a Deal

Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly asked the court to pause their appeals as they work toward finalizing a settlement. The request, filed Thursday, signals progress in ending a legal battle that has stretched on since 2020.

The motion asks the court to put the appeals on hold while Ripple and the SEC finalize a deal. Both sides have agreed in principle to resolve all remaining disputes, including the SEC’s appeal of the court’s prior ruling, Ripple’s cross-appeal, and claims against Ripple executives Brad Garlinghouse and Chris Larsen.

Attorney James Filan shared the update on X, and said that the agreement covers all aspects of the case. Any finalized deal will still need formal sign-off from the SEC’s commissioners.

The case began in December 2020 when the SEC alleged that Ripple’s sale of XRP tokens amounted to unregistered securities offerings. Ripple has maintained that XRP is a currency, not a security, and falls outside the agency’s scope.

Over the years, the case has come to represent a broader conversation around crypto regulation in the U.S., with industry participants watching closely for its implications.

Earlier in April, the SEC and Gemini made similar request to pause court proceedings while they worked out a settlement in their long-running case involving Gemini’s Earn program. These actions suggest regulators and crypto firms may be seeking more negotiated resolutions rather than drawn-out legal battles.