Ripple-SEC appeals case paused for 60 days amid settlement talks
The U.S. Court of Appeals for the Second Circuit on April 16 granted a joint request from Ripple Labs and the Securities and Exchange Commission to pause their appeal in the 2020 enforcement action.
The order places the litigation “in abeyance” for 60 days, giving both sides time to pursue settlement talks. The SEC must file a status report by June 15, and the final deadline for resuming the appeal remains at the end of October, reports Cointelegraph.
Case history and settlement talks
Originally filed in December 2020, the SEC alleged that Ripple’s sale of XRP tokens constituted unregistered securities offerings. In August 2024, a federal judge ruled Ripple liable for $125 million, prompting both parties to file cross‑appeals. Ripple CEO Brad Garlinghouse announced March 19 that the SEC planned to drop its appeal, and Ripple agreed to withdraw its own, potentially securing a roughly $75 million refund from the lower‑court judgment. Despite these signals, unresolved legal entanglements kept the appeals active until the recent pause.
Regulatory shift under new leadership
The suspension of the appeal comes amid a broader pivot at the SEC following former Chair Gary Gensler’s departure. Acting Chair Mark Uyeda, backed by the Trump administration’s “Department of Government Efficiency,” has scaled back several high‑profile crypto enforcement actions. On April 9, Paul Atkins—viewed as crypto‑friendly—was confirmed by the Senate as the new SEC chair. Financial disclosures show Atkins holds millions in assets across crypto firms such as Securitize and Pontoro, raising questions about potential conflicts as the agency finalizes its regulatory framework for digital assets.
As both sides enter negotiations, market participants will watch closely for a resolution that could set a precedent for future crypto enforcement. With the SEC’s stance softening and new leadership at the helm, the outcome may signal how aggressively regulators will police digital‑asset markets going forward.
Read also: Raydium launches LaunchLab, RAY price surges 8% in response
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