Eleanor Terrett revealed the latest update on the high-profile XRP lawsuit. According to the publication, Ripple and the SEC submitted a status report, seeking to temporarily halt the appeal process of the case. They requested that the appeal process remain paused until August 15, 2025, when they will provide another update. Both parties are now awaiting the decision of the district court before proceeding with the appeals. Eleanor's publication stated:
"The SEC and Ripple have submitted a status report to the Second Circuit and are asking it to maintain a pause on the appeals while awaiting a decision from the district court".
Defense attorney James Filan also shared information about the update on the Ripple vs. SEC case. He indicated that the joint request to suspend the appeals suggests that both parties are strategically positioning themselves ahead of a possible crucial decision from the district court.
It is noteworthy that this measure comes after the joint motion from both parties, submitted on June 12, to lift the court order in the Ripple case. In a motion filed in the Manhattan District Court, Ripple and the commission requested the release of the $125 million civil penalty from escrow. Under the terms of the proposed agreement, the SEC would receive $50 million, while the remainder would be returned to Ripple. While many, including XRP attorney Bill Morgan, are hopeful for the court's approval, there is growing optimism for a swift resolution of the case.
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