U.S. Appeals Court Temporarily Halts Ripple Case Proceedings

The United States Court of Appeals for the Second Circuit has temporarily halted the appeal proceedings in the high-profile Ripple case. 

According to a post on X, this decision comes after a joint motion submitted by the Securities and Exchange Commission (SEC) and Ripple Labs earlier this month, which garnered the court’s approval. 

What’s Next for the Ripple Case

While the case is on hold, there will not be any arguments, hearings, or decisions until further notice. The SEC is mandated to provide a status report to the court within two months. This report will update the court on the progress of the case and any new developments that might affect the timeline.

Meanwhile, the Ripple case has attracted attention from the crypto community, especially XRP supporters. 

Many expected a quick resolution following the federal judge’s ruling that Ripple’s XRP sales on public exchanges are not securities transactions. However, this new delay raises concerns that a final decision might take a while.

Everyone is focused on the SEC’s upcoming report, which will determine what happens next in the ongoing legal battle. Until then, the Ripple case remains uncertain, with the crypto community watching for updates or delays. 

SEC Dropped Lawsuits Against Ripple and Other Crypto Firms

Ripple Labs won a major victory in its long legal battle with the SEC. Ripple’s CEO, Brad Garlinghouse, shared the news.  

Meanwhile, the SEC considered appealing in January but chose to exit the case. However, Ripple’s case is not the only one where the SEC has backed down. In recent months, the regulator has dropped lawsuits against other crypto firms, signaling a possible shift in strategy.

This comes as President Donald Trump has voiced support for the crypto industry. The SEC has recently dropped lawsuits against several crypto firms, including Consensys, Coinbase, OpenSea, and ended its investigation into Robinhood’s crypto operations. These moves suggest a shift in the SEC’s approach, possibly toward clearer regulations instead of lawsuits.

Victory Over SEC Sparks Renewed Push for Fair Rules

Basking in the landmark win, Stuart Alderoty, Ripple’s Chief Legal Officer, says the company will continue to push for fair regulations. As reported by TheCoinRise, Alderoty maintained that Ripple will lead the quest for “clear and fair crypto regulation.”

Ripple’s victory over the SEC is a testament to the firm’s resilience. According to Aldorety, “Ripple stands alone as the company that fought back and won on essential legal questions.” The asset has also remained resilient throughout the legal drama.