The long-running dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. is nearing conclusion as both sides have agreed to dismiss their appeals.
Overview of the Legal Dispute
According to attorney James K. Filan, the SEC has written to the Second Circuit Court of Appeals indicating a joint stipulation to dismiss the appeals. Each party will bear its own costs, though the agreement is still pending formal approval from the court.
Need for Court Approval
Prior court orders required updates on the case, and even though an agreement has been made, the court process must be completed. Community member Sherrie explained that delays are due to procedural timing and seasonal slowdowns.
Outlook for Ripple and SEC
Approval of the stipulation by the Court of Appeals is widely anticipated, which would conclude this phase of litigation. Once confirmed, both parties can move forward without the uncertainty of pending appeals.
In summary, the alignment of both parties and their progress towards final resolution reflect the imminent closure of the long-standing legal battles between the SEC and Ripple.
