Ripple Files Letter in Support of Indicative Ruling in Legal Battle with SEC
In a recent development in the ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has submitted a new letter in support of a joint motion seeking an indicative ruling from the court.
Both Ripple and the SEC have requested the Second Circuit Court to continue the pause in the appeal process, with the SEC required to provide a status update by August 15, 2025.
Ripple clarified in its letter to Judge Analisa Torres that the purpose of the joint motion is not to alter the court’s previous Summary Judgment decision, which remains crucial for setting precedents in future cases. The company emphasized that even without an injunction, it is obligated to comply with securities laws like any other business.
Furthermore, Ripple highlighted the benefits of reaching a settlement at this stage, including mitigating the risks associated with prolonged appeals and conserving court resources. The proposed settlement, which may involve compromises such as a reduced penalty, would bring closure to a protracted legal battle that has spanned several years.
It is noteworthy that Ripple underscored the SEC’s evolving approach to regulating digital assets, citing the agency’s recent dismissal of other crypto-related cases and the establishment of a Crypto Task Force to develop transparent and equitable industry regulations. Ripple’s active engagement in this regulatory dialogue reflects its commitment to compliance and cooperation with regulatory authorities.
Having been one of the earliest targets of the SEC’s enforcement actions in the crypto space, Ripple’s case has garnered significant attention within the industry. The company is now seeking the court’s approval of the negotiated settlement, which aims to strike a balance between accountability and efficiency in resolving the legal dispute.