Ripple and the SEC request the court to suspend the appeal to conclude the Ripple case (XRP)

Gate News bot message, the U.S. Securities and Exchange Commission (SEC) and Ripple Labs notified the U.S. Court of Appeals for the Second Circuit on June 16 that they are jointly seeking to pause the appeal, pending the ruling from the district court, which may lead to the resolution of the litigation regarding the sale of Ripple (XRP).

In a status report submitted by SEC appeal attorney Ezekiel L. Hill, it was noted that both parties agreed to maintain the stay in the appellate proceedings. This submission follows the court’s order on April 16, which required the SEC to submit updated information within 60 days after both parties disclosed that they had reached a settlement agreement in principle, subject to SEC approval and modifications to the final judgment by the district court.

The document submitted by the SEC on June 16 states: “Both parties agree that this court should continue to stay the appeal and request that the Commission submit a status report by August 15, 2025.”

On May 8, after internal approval, the U.S. Securities and Exchange Commission (SEC) signed a settlement agreement with Ripple, contingent upon the district court modifying the final judgment in the protracted XRP case. According to the terms of the agreement, Ripple will pay $50 million to the SEC from a civil penalty of $125,035,150, with the remaining amount being refunded to Ripple, while the injunction against Ripple will be lifted.