In a recent procedural development, the United States Court of Appeals for the Second Circuit has formally approved a joint motion by the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, Inc. to place the ongoing appeal on hold, granting a temporary abeyance. The order, signed by Clerk of Court Catherine O’Hagan Wolfe and issued under Circuit Judge José A. Cabranes, requires the SEC to submit a status report within 60 days of the order. The appellate case, docketed under Nos. 24-2648(L) and 24-2705(XAP) involve the SEC’s appeal and Ripple’s cross-appeal in the broader enforcement action originally brought by the Commission in December 2020. The defendants include Ripple Labs and its executives, Bradley Garlinghouse and Christian A. Larsen. Several individual XRP holders, represented by attorney John Deaton, are listed as intervenors. James K. Filan Confirms Court Order Defense lawyer and former federal prosecutor James K. Filan, a prominent figure in the XRP legal commentary space, reported the development on X, stating: “…The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order.” His post included a direct image of the court order, confirming the procedural pause in the appellate process. #XRPCommunity #SECGov v. #Ripple #XRP The parties’ joint motion to hold the appeal in abeyance has been granted. The @SECGov is directed to file a status report within 60 days of this Order. pic.twitter.com/mUgEBaJRuU — James K. Filan (@FilanLaw) April 16, 2025 The ruling confirms earlier reporting by The Times Tabloid , which had already noted that both parties had agreed to temporarily halt proceedings in what the outlet described as a “bullish step” amid signs of shifting dynamics in the case. The Times Tabloid observed that such a move often suggests that both sides are either considering settlement or reevaluating the course of litigation, though no official statements to that effect had been made. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Mixed Reactions from the XRP Community Public reaction from the XRP community to the court’s approval of the motion has been mixed. X user SomeDude77 expressed frustration with the pace of litigation, stating , “Yawn!! They will take the full 60 days then figure out a way to extend it. So fucking over it!!” In response, another user identified as Professor LongBottom offered a more optimistic view, replying, “This is not Gary Gensler’s SEC,” possibly alluding to expectations of a policy shift within the Commission. Another comment from a community member, Professor X, described the decision as “One step closer and one step to the end!! It now goes back to SEC to approve and BE DONE!!!” indicating hope that the pause in the appeal process might signal a resolution on the horizon. While the appellate court’s order does not alter the fundamental legal questions at the heart of the SEC’s enforcement case against Ripple, it does represent a significant procedural moment. The abeyance provides both sides additional time for potential negotiation or reassessment without the pressure of immediate appellate deadlines. The next milestone in the case is now tied to the SEC’s obligation to submit a status report within 60 days. Until then, the community and observers will be closely watching for any indications of settlement talks, strategic shifts, or administrative developments that could influence the outcome of one of the most closely watched crypto enforcement actions in U.S. history. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple vs SEC? Court Makes New Order For XRP Case Conclusion appeared first on Times Tabloid .
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