The SEC and Ripple Submit Joint Motion to Pause Litigation

BlockBeats News, April 11th, According to former U.S. federal prosecutor James K. Filan, it was revealed that a joint motion to stay the appeal has been filed by both parties in the U.S. Securities and Exchange Commission v. Ripple case, based on a settlement agreement reached by both parties. The settlement agreement is still pending approval by the Commission. No further briefings will be submitted on April 16th.

BlockBeats previously reported that on March 26th, Ripple's Chief Legal Officer Stuart Alderoty stated, "Last week, the U.S. Securities and Exchange Commission (SEC) agreed to dismiss its case against Ripple unconditionally. Ripple has now agreed to dismiss its counterclaims. The SEC will keep $50 million out of the $125 million fine (already deposited in an interest-bearing escrow account in cash), and the remaining amount will be returned to Ripple. The agency will also seek the court to lift the previously imposed standard injunction at the SEC's request. All of this is subject to Commission voting, finalization of documents, and regular court processes."