Settlement In Sight: SEC and Ripple Request Pause of Appeal
The U.S. securities regulator SEC and blockchain firm Ripple have jointly filed to temporarily pause their higher appeals in the ongoing XRP case.
The U.S. securities regulator SEC and blockchain firm Ripple have jointly filed to pause their higher appeals in the long-running XRP case for the time being. This move could signal a coming settlement between the parties.
"In a pause, resources of both the court and the parties would be saved as they continue negotiations toward a resolution," the joint petition filed with the court on April 10 states.
According to James Filan, Ripple’s legal counsel, this postponement would also push back the previously set April 16 deadline for Ripple to respond to a January SEC filing.
Ripple CEO Brad Garlinghouse had already hinted at the end of the legal battle. On March 19 he said the XRP case was in its final stages. The new development suggests the SEC is open to a settlement once the new chair, Paul Atkins, officially takes the helm. Atkins was confirmed by the Senate as SEC chair on April 9, but he has not yet assumed the role.
XRP's price barely moved on the news, rising only 1.3%. Investors seem to have priced in the end of the legal fight already.
Meanwhile, Ripple continues to move. The company recently hit the headlines with the $1.25 billion acquisition of financial services firm Hidden Road. XRP investors hope this mega deal will accelerate coin adoption.
Additionally, the first XRP ETF launched in the United States and Coinbase introduced new XRP futures, signaling growing institutional interest in the crypto asset.
