Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day extension on their pending appeal to discuss settlement negotiations.

The U.S. Court of Appeals for the Second Circuit granted the parties' joint request on April 16, and requires that the parties provide an update to the Court by June 15.

The U.S. Court of Appeals for the Second Circuit has granted a 60-day extension to discuss settlement negotiations in the pending appeal between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

The parties' joint request was granted on April 16, and they are required to provide an update to the Court by June 15.

The legal battle between Ripple and the SEC has spanned nearly five years, beginning with the SEC's lawsuit in December 2020.

In August 2024, a federal court ruled partially in favor of the SEC, holding Ripple liable for selling XRP without registration and imposing a $125 million penalty. Both sides filed appeals, but recent discussions suggest that a settlement could be reached to reduce the penalty further and provide clarity on XRP's status.

As the legal proceedings unfolded, hopes for a spot XRP exchange-traded fund (ETF) grew.

According to Nate Geraci, a leading ETF analyst, regulators have little reason to deny an XRP product at a time when crypto exchanges are going public and the industry is evolving.

Geraci's comments highlight the increasing investor interest and demand for integrating cryptocurrencies, like XRP, into mainstream financial products.

The regulatory landscape appears to be shifting as the SEC operates under new leadership.

After being confirmed as SEC Chairman on April 9, Paul Atkins appears to have a more crypto-friendly perspective compared to Gary Gensler, who is known for his stern stance on crypto.

This shift in leadership is evident in the dismissal of various enforcement cases concerning crypto. Additionally, the pending appeal and potential settlement between Ripple and the SEC could bring further clarity and optimism to the crypto market.

Ripple has been actively engaging with the new administration. It reportedly donated $50 million in XRP to President Trump's inauguration fund.

Moreover, CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have attended several Trump-related events in recent months.

These actions also coincide with Ripple's decision to abandon its own cross-appeal, which could allow the company to potentially get a $75 million refund from that part of the fine imposed by Judge Charles يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون يومئون

News data source: kdj.com

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