Ripple Labs has made a legal move that may potentially conclude their long-standing battle with the U.S. Securities and Exchange Commission (SEC).
Request for Indicative Ruling
On June 17, 2025, Ripple filed a short letter backing a joint request for what’s called an indicative ruling in the Southern District of New York. Ripple’s legal team, including lawyers from Kellogg Hansen and Debevoise & Plimpton, is aiming to address lingering issues in the litigation. Crypto attorney Fred Rispoli noted that the letter seeks to resolve outstanding uncertainties regarding appellate risks and Ripple’s unique position compared to other SEC targets.
Settlement Proposal
Ripple’s legal team clarified that their motion does not seek to have the court change or reverse the previously rendered Summary Judgment Order. This decision remains binding and determines the legal status of XRP sales. Ripple asserts that even if the current injunction is lifted, it must still comply with securities laws. The aim of this filing is to reach a conclusion based on mutual terms without continuing litigation.
Changing SEC Strategy and Public Reaction
Ripple’s letter references the SEC's evolving stance on crypto regulation. The Commission has assembled a dedicated crypto task force to explore rulemaking and exemptive authorities for tokenized assets. This reflects a changing regulatory landscape. Reactions from the legal community have been mixed, with some expressing cautious optimism regarding the potential resolution of the lengthy dispute.
Ripple's filing highlights the significance of mutually agreed resolutions in legal conflicts, demonstrating that even after prolonged battles, opportunities for negotiation remain. A response from the court regarding this request is anticipated, which could definitively resolve this multi-year dispute and impact discussions on cryptocurrency regulation in the United States.
