The Ripple case against the SEC continues to evolve with a number of significant developments. A procedural error temporarily halted progress towards resolving the dispute. Let's look at the main details of the situation.
Current Status of Ripple and SEC Case
Attorney Bill Morgan provided an update on the events surrounding the Ripple and SEC case, particularly about the settlement agreement reached, signed by Ripple on April 23, 2025, and by the SEC on May 8, 2025. Both sides filed a joint motion to place the appeal on hold.
Reasons for the Delay
The request for an indicative ruling was denied due to a procedural issue as the motion did not address Rule 60, which governs relief from final judgments. This led to its rejection; however, Morgan clarified that the denial was on procedural grounds, not due to a substantive disagreement with the settlement.
Next Steps in the Process
The parties now need to submit another joint motion that complies with procedural requirements. Meanwhile, Ripple’s Chief Legal Officer Stuart Alderoty indicated that both sides would continue cooperating to finalize the agreed terms. Once a corrected motion is submitted and approved, the parties will again request a limited remand from the Court of Appeals.
Despite the procedural error, the overall structure of the settlement remains intact. The initial agreement between Ripple and SEC remains signed and valid. The delay doesn't reverse the progress made, and efforts to resolve the case continue.
