SEC Asks for More Time in Ripple Case
The SEC isn’t done waiting—at least, not yet. Just as the initial 60-day pause in the Ripple appeal was set to expire, regulators have asked the Second Circuit for another two-month extension. If granted, the next update in the long-running legal battle won’t come until mid-August.
The request was tucked into a status report filed Monday with the U.S. Court of Appeals. It’s the latest move in a case that’s been full of delays, back-and-forth negotiations, and procedural hurdles.
Where Things Stand Now
Back in April, both the SEC and Ripple agreed to hit pause on the appeal while they worked out a potential settlement. The deal, if approved, would scrap a permanent injunction against Ripple’s institutional sales and slash its penalty from $125 million to $50 million.
But getting there hasn’t been smooth. The first attempt at an indicative ruling—a kind of preliminary nod from the court—was shot down by Judge Analisa Torres last month. She called out a technical flaw in the filing and noted that changing a final judgment isn’t something courts do lightly.
That didn’t stop the two sides from trying again. Last week, they refiled their motion, arguing that this case *does* meet the high bar for “exceptional circumstances.” Now, everyone’s waiting to see if Judge Torres agrees.
What Happens Next?
If the judge gives the green light, the case could move quickly. The SEC and Ripple would ask the appeals court to send the case back to the district court, where the penalty and injunction could be revised. After that, both sides would likely drop their appeals, finally putting the lawsuit to rest.
But if the motion is denied? Well, they’ve got until August 15 to figure out another approach.
Timing is fuzzy, though. Judge Torres took about a week to rule on the first motion, so there’s a chance we’ll hear something by the end of this week. Or not—this case has a habit of defying expectations.
For now, the SEC’s request for more time suggests they’re not ready to walk away. Whether that means a deal is close or just stuck in limbo, it’s hard to say. Either way, the XRP community—and the broader crypto world—will be watching.
