Ripple and SEC filing paves way to end years-long dispute

Ripple Labs and the US Securities and Exchange Commission (SEC) have filed a joint motion to halt the appeals process, paving the way for a potential settlement. This could put an end to a long-running legal battle that has come to symbolize the regulatory uncertainty surrounding cryptocurrencies in the US since December 2020.

At the heart of the conflict is the XRP token, which the SEC classifies as an unregistered security. Ripple contends that XRP is a crypto and therefore not subject to the Commission's jurisdiction. The company’s co-founders Brad Garlinghouse and Chris Larsen are also involved in the case.

Attorney James Filan reports that the parties have reached a tentative agreement on all outstanding issues, including cross-appeals, and are now awaiting final approval from the SEC commissioners.

The motion was first submitted on April 10. The parties will not file a brief for the appeal scheduled for April 16, as they focus on finalizing negotiations. Therefore, the case that has largely defined the approach to crypto regulation in the United States may soon be over, CoinDesk says.