Court appeals in the case between the SEC and Ripple continue to remain at a standstill as part of a request by both parties, first initiated in April. This update in case proceedings comes as the lawsuit brought by America’s securities watchdog potentially nears a close.
The request was first made on April 10, 2025, with both the SEC and Ripple making a joint request to keep the appeals in abeyance. This was due to both parties reaching an agreement, subject to commission approval. The appeals process was kept on hold as additional time was needed for the commission’s final approval, after which both parties could reach out to the district court for a ruling.
The appeals are still held in abeyance with the Securities and Exchange Commission, with both parties requesting a motion for an indicative ruling.
“In light of the foregoing, the parties are in agreement that this Court should continue to hold the appeals in abeyance, with the Commission to file a status report by August 15, 2025,” read the final update in the status report.
Ripple was initially ordered to pay $125 million in penalties to the SEC as part of a court ruling by U.S. Judge Analisa Torres. After further deliberations, the penalty amount was reduced to $50 million.