Ripple Labs Inc. and the U.S. Securities and Exchange Commission (SEC) have taken a significant step towards resolving their multi-year legal dispute regarding XRP. Recent court filings indicate that both parties are working on finalizing a settlement.
Agreement Requires SEC Approval
According to the court document, Ripple and the SEC have reached an agreement in principle covering several aspects of the ongoing litigation. The proposed settlement aims to resolve the original case, the SEC's appeal, and Ripple's cross-appeal. However, the deal is pending formal approval from the SEC's commissioners.
SEC Meeting and Appeal Filing Deadline
Attention now turns to two major dates that could determine the next steps in the case. The SEC has scheduled a closed-door meeting on April 10, which may address the pending settlement. This timing is crucial, as Ripple faces an April 16 deadline to file its appellate brief if no settlement is reached.
Emergency Filing Adds New Layer to Case
While settlement discussions advance, the case took another turn with an emergency filing by Justin W. Keener at the start of April. The filing was submitted to Judge Analisa Torres to present evidence potentially favorable for Ripple's defense. The SEC opposed the filing on multiple grounds.
As these developments unfold, Ripple and the SEC are on the brink of an important settlement that could bring an end to years of litigation, though the final steps remain unpredictable.
