New updates in the Ripple and SEC lawsuit: halting the appeal process
The parties request a suspension of the appeal to await the district court's decision
In the latest developments of the cross-border lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties have requested the Second Circuit Court of Appeals to pause the appeal process. The SEC submitted a status report on June 16, 2025, suggesting that the stay be maintained at least until August 15, 2025, to provide new updates. This decision aims to facilitate settlement negotiations, which could lead to a new outcome for the years-long lawsuit.
Negotiation efforts and potential agreements
In early 2025, both parties reached a principle agreement to settle the lawsuit. However, this agreement needs to be approved by the district court to officially adjust the final ruling. Under the proposal, Ripple will pay a reduced penalty of $50 million, down from the original $125 million, with the remainder refunded to Ripple. The SEC also agreed to lift the ban on the company, opening up additional possibilities for the already volatile cryptocurrency market.
Legal proceedings and next steps
Previously, the district court denied the request for amendment as it did not specify the "special circumstances" for the adjustment measure. By June 12, Ripple and the SEC filed a new joint motion, providing additional reasons, along with a request for the court to issue a guiding ruling. At this point, the parties agreed to maintain the suspension of the appeal. If the appellate court agrees, they will request the lower court to expedite the process to finalize the agreement.
The impact of news on XRP prices and the cryptocurrency market
Meanwhile, the price of XRP increased by 7%, reaching a peak of $2.34 before dropping back to $2.23. This volatility reflects investor sentiment during a period awaiting important legal outcomes. The cryptocurrency market remains sensitive to legal news, which can trigger strong fluctuations or stability as new regulations or potential agreements arise.
Summary: The current lawsuit between Ripple and the SEC is a clear testament to the transformative potential of the cryptocurrency market based on legal developments. Investors need to closely monitor updates to make the most informed decisions in this ever-changing environment.
Source: https://tintucbitcoin.com/ket-thuc-goi-von-dung-thu-tuc-15-8/
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