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Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to suspend their appeal in a long-term legal battle over XRP.
In a court filing on April 10, the parties requested that the lawsuit be restrained for 60 days, citing ongoing settlement discussions.
“The guarantee saves judicial and party resources, and the parties will continue to pursue negotiated resolutions on this issue,” the submission states.
Ripple CEO’s remarks in March will be suspended due to SEC case procedures
The suspension of minutes follows recent remarks by Ripple CEO Brad Garlinghouse in March, suggesting the case has ended.
The timing of the filing has fueled speculation that the SEC’s coming-of-age chairman, Paul Atkins, may be waiting for him to officially take office before the settlement was finalized.
Ripple defense attorney James Filan confirmed that Abeyance Request will override the previous April 16th Ripple deadline and respond to the SEC filed in January.
“The settlement is awaiting approval from the committee. No summary will be submitted on April 16th,” Philan told X.
#xrpcommunity #secgov v. #ripple #xrp The parties filed a joint motion to appeal the appeal based on the parties’ agreement to be resolved. The settlement awaits committee approval. No briefs will be submitted on April 16th. pic.twitter.com/ovkpcih43h
– James K. Philan
(@filanlaw) April 10, 2025
The SEC’s willingness to suspend appeals is interpreted by some legal commentators as a signal that the agency may be preparing to stop litigation under new leadership.
A community member said the Atkins-led settlement could mark a “huge victory” and potentially reset the SEC’s approach to cryptocurrency.
Atkins was confirmed as SEC Chairman by the Senate on April 9th, but it is uncertain when he will be officially sworn in.
For context, former SEC chairman Gary Gensler took over three days after confirmation in 2021, suggesting that Atkins could take over on April 12th.
The XRP incident, which began in December 2020, is one of the most closely watched legal battles in the crypto industry.
The Trump-era Shift Signals Show SEC Reevaluation of Crypto Regulation
The recent change in the SEC’s tone under President Donald Trump reflects broader efforts to reassess the institution’s approach to digital assets.
SEC’s Mark Uyeda announced on April 5 that the SEC is considering seven staff issued statements in line with Trump’s deregulation agenda and guidance from Government Efficiency (DOGE) led by Elon Musk.
Among those reviewing is the SEC’s Finhub framework for 2019, assessing whether digital asset sales could qualify as investment contracts based on the Howey test.
Other documents being reviewed include statements from the Investment Management, Corporate Finance, and Exams departments, particularly statements addressing risks related to 2022 Bitcoin Futures, Cryptocurrency and industry-wide bankruptcy.
As reported, the SEC issued new guidelines on April 4, saying certain Fiat-backed stubcoins will be classified as “non-safe” and thereby exempt from transaction reporting requirements.
The Postripple and the SEC have first appeared on Cryptonews, calling for a 60-day suspension of appeals, suggesting a possible settlement.
