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The SEC and Ripple Labs are seeking more time to finalize a settlement and have asked the US Court of Appeals for the Second Circuit to keep their appeals in abeyance, according to a new update from defense lawyer James Filan.

#XRPCommunity #SECGov v. #Ripple #XRP In light of the pending motion for an indicative ruling, the parties have requested that the Second Circuit continue to hold the appeals in abeyance, with the @SECGov to file a status report by August 15, 2025.https://t.co/7oQvL5Rx7U

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 17, 2025

The request to keep the appeals on hold comes after the SEC and Ripple submitted a renewed joint motion on June 12 to the US District Court for the Southern District of New York. The motion seeks to dissolve the injunction against Ripple and reallocate the $125 million civil penalty, proposing that $50 million be paid to the SEC and $75 million be returned to Ripple.

The renewed filing follows the court’s rejection of their initial joint motion for an indicative ruling in May. Judge Analisa Torres denied that request, stating it failed to demonstrate the “exceptional circumstances” required to modify a final judgment.

In response, the parties’ updated motion provides those required justifications, arguing that the proposed settlement would efficiently resolve the case without further litigation and would be consistent with the SEC’s approach in other crypto enforcement actions.

The renewed motion remains pending before the district court.

Today’s filing seeks to suspend further appellate proceedings while settlement terms are finalized. The SEC has agreed to provide a status report by August 15, 2025.

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