Why the XRP Lawsuit Is Stalled Until August 15?

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Ah, the never-ending saga of Ripple Labs and the U.S. Securities and Exchange Commission (SEC)—a legal drama that makes soap operas look like a quick episode of Bluey. Just when you thought it was safe to check your crypto wallet, the case has hit yet another pause button, and this time, it’s a long one. Both Ripple and the SEC have decided to ask the U.S. Court of Appeals for the Second Circuit to delay the appeals process until August 15, 2025. Yes, you heard that right—2025! That’s like asking for a time machine to avoid your responsibilities. 🚀

But why the delay, you ask? Is it because they’re waiting for the next season of Stranger Things to drop? Not quite.

Why the Delay Till August 15?

The main reason for this delay is that Ripple and the SEC are trying to finalize a settlement agreement. Earlier this year, in April, they were all buddy-buddy, claiming they were working towards a final settlement and even asked the court for an “indicative ruling.” Sounds fancy, right? It’s like asking your parents for a “suggestive ruling” on whether you can stay out past curfew.

The plan was to modify an earlier judgment—specifically, to lift the permanent injunction against Ripple and cut down the penalty from a whopping $125 million to a mere $50 million. Because who doesn’t love a good discount? 💸

But in mid-May, their first attempt hit a roadblock. Judge Analisa Torres, probably sipping her coffee and rolling her eyes, denied their joint motion, saying it didn’t meet the rare, “exceptional circumstances” needed to change a final ruling. Ouch! Talk about a legal slap in the face.

Second Try—Still Waiting

Not ones to back down easily, Ripple and the SEC filed a new motion on June 12, asking the district court to dissolve the injunction against Ripple and adjust the penalty distribution. Meanwhile, that new motion is still pending, and Judge Torres has not yet given her decision. It’s like waiting for your crush to text you back—agonizing and full of uncertainty.

patience is a virtue, and so is a good sense of humor! 😂

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2025-06-17 13:02