Latest Update: SEC Requests Extension of Ripple Appeal Abeyance
Following the initial 60-day pause on the Ripple appeal, the SEC has submitted a request to the Second Circuit for an additional 60-day extension on the abeyance.
The SEC’s latest status report, filed with the U.S. Court of Appeals for the Second Circuit, outlines the request to prolong the appeals process for another 60 days. The new deadline for the next status update is now set for August 15, 2025.
#XRPCommunity #SECGov v. #Ripple #XRP Following a pending motion for an indicative ruling, the parties have jointly requested the Second Circuit to maintain the abeyance on the appeals, with the @SECGov scheduled to provide a status report by August 15, 2025. https://t.co/7oQvL5Rx7U
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 17, 2025
Recent Updates in SEC v. Ripple Appeal
In April, the SEC and Ripple had mutually agreed to pause the appeal for 60 days to seek an indicative ruling from the District Court regarding their proposed settlement agreement.
The agreement involves lifting the permanent injunction on Ripple’s institutional sales and reducing the penalty amount to $50 million from the original $125 million. The Second Circuit had halted the appeals for 60 days and instructed the SEC to file a status report by June 16.
Parties Resubmit Motion for Indicative Ruling
Subsequently, the parties resubmitted their motion for an indicative ruling on the settlement agreement after it was initially denied by U.S. District Judge Analisa Torres due to procedural issues.
Judge Torres emphasized that modifying her final judgment requires exceptional circumstances, which the parties failed to meet in their initial submission. The SEC and Ripple have since refiled the motion, citing exceptional circumstances that warrant a modification of the ruling.
Current Progress
The motion is currently pending in the district court, awaiting a decision from Judge Torres. As the parties await the ruling, the SEC has filed a status report to keep the Second Circuit informed and has requested an additional 60 days for resolution.
The next steps in the Ripple case depend on Judge Torres’ decision on the indicative ruling. If the motion is denied, the parties may refile before the August 15 deadline. However, if granted, they will seek a brief remand from the Second Circuit for the case to be sent back to Judge Torres for final judgment modification.
Upon successful resolution, the SEC and Ripple will seek to withdraw their appeals, potentially concluding the case. The timeline for a final resolution remains uncertain as stakeholders await Judge Torres’ ruling, which is expected to be issued later this week based on previous timelines.