Is there a turning point for the Ripple case? SEC and Ripple are jointly seeking a settlement, aiming to redistribute a $125 million fine

Recent news indicates that the U.S. SEC and Ripple Labs are working to reach a settlement agreement and have submitted a request to the U.S. Court of Appeals for the Second Circuit, hoping to delay the appeals process while waiting for the finalization of the settlement terms. According to the latest post by defense attorney James Filan on X, both parties are seeking more time to reach a settlement.

On June 12, the SEC and Ripple submitted a new joint motion to the U.S. District Court for the Southern District of New York, requesting a suspension of the appeal. This motion aims to lift the injunction against Ripple and redistribute the $125 million civil penalty, with $50 million going to the SEC and the remaining $75 million refunded to Ripple.

The re-filing of this lawsuit follows the court's dismissal of the parties' initial joint motion in May. At that time, Judge Analisa Torres determined that the request failed to demonstrate the 'extraordinary circumstances' required to modify the final judgment, leading to the rejection of the motion.

In response, both parties have elaborated on the details in the updated motion, indicating that the proposal can effectively resolve the case without further litigation and is consistent with the SEC's practices in other cryptocurrency enforcement actions. The motion is currently under consideration in the district court.

In summary, the resubmitted documents aim to suspend the subsequent appeals process until the final details and terms of the settlement are determined. It is worth noting that the SEC has agreed to submit a status update report by August 15, 2025, which will provide the market with more information about the progress of the settlement.

Meanwhile, the entire cryptocurrency community is closely monitoring the progress of this case, hoping that it will bring more legal certainty and market stability.

What are your thoughts on the series of actions taken by the SEC and Ripple in seeking a settlement and delaying the appeals process? Does this signal a more lenient attitude towards cryptocurrency market regulation?