SEC and Ripple Resubmit Motion to Stay Appeal: XRP Lawsuit Update

The U.S. Securities and Exchange Commission (SEC) and Ripple have jointly resubmitted a motion to the court requesting a stay of appeal proceedings in their ongoing legal battle. According to James K. Filan, a former federal prosecutor closely following the case, this motion is based on an agreement reached between the SEC and Ripple. This development follows a previous instance in April where the court granted a similar request from both parties to pause the appeal process. The SEC is now obligated to file a progress report by August 15th, providing an update on the status of any potential settlement discussions or ongoing investigations that may impact the need for an appeal. The continued stay suggests both parties may be exploring avenues to resolve the case outside of a lengthy appeals process. The outcome of this legal battle has significant implications for the regulatory landscape of cryptocurrencies in the United States. ```