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

PANews reported on April 11 that according to former U.S. federal prosecutor James K. Filan, the SEC and Ripple have jointly submitted a motion to the U.S. Court of Appeals for the Second Circuit, applying to "abayance" the appeal and cross-appeal process of both parties, on the grounds that the two parties have reached a "principle settlement agreement" and are currently pending approval by the SEC committee. If approved, a confirmatory ruling will be applied to the District Court. The court has cancelled the original arrangement to submit defense materials on April 16.

This motion marks the case may soon usher in a final settlement.