SEC and Ripple reach preliminary settlement agreement, both parties apply to suspend appeal process

Odaily News According to former U.S. federal prosecutor James K. Filan, the SEC and Ripple have jointly filed a motion with the U.S. Court of Appeals for the Second Circuit to "abeyance" the appeal and cross-appeal proceedings between the two parties, on the grounds that the two parties have reached a "principle settlement agreement" and are currently awaiting approval from the SEC committee. If approved, they will apply to the local court for a confirmatory ruling. The court has canceled the original arrangement to submit the reply materials on April 16.