{"id":127315,"date":"2025-04-16T18:18:39","date_gmt":"2025-04-16T18:18:39","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127315"},"modified":"2025-04-16T18:18:39","modified_gmt":"2025-04-16T18:18:39","slug":"court-grants-60-day-pause-of-sec-ripple-appeals-case","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127315","title":{"rendered":"Court grants 60-day pause of SEC, Ripple appeals case"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsAn appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against Ripple amid settlement negotiations.<br \/>\nIn an April 16 filing in the US Court of Appeals for the Second Circuit, the court approved a joint SEC-Ripple motion to hold the appeal in abeyance \u2014 temporarily pausing the case \u2014 for 60 days. As part of the order, the SEC is expected to file a status report by June 15.<br \/>\nApril 16 order approving a motion to hold an appeal in abeyance. Source: PACERThe SEC\u2019s case against Ripple and its executives, filed in December 2020, was expected to begin winding down after Ripple CEO Brad Garlinghouse announced on March 19 that the commission would be dropping its appeal against the blockchain firm. A federal court found Ripple liable for $125 million in an August ruling, resulting in both the SEC and blockchain firm filing an appeal and cross-appeal, respectively.<br \/>\nHowever, once US President Donald Trump took office and leadership of the SEC moved from former chair Gary Gensler to acting chair Mark Uyeda, the commission began dropping multiple enforcement cases against crypto firms in a seeming political shift. Ripple pledged $5 million in XRP to Trump\u2019s inauguration fund, and Garlinghouse and chief legal officer Stuart Alderoty attended events supporting the US president.<br \/>\nRelated: SEC dropping Ripple case is \u2018final exclamation mark\u2019 that XRP is not a security \u2014 John Deaton<br \/>\nDespite support for the end of the case coming from both Ripple and the SEC, the August 2024 judgment and appellate cases leave some legal entanglements. Alderoty said in March that Ripple would drop its cross-appeal with the SEC and receive a roughly $75 million refund from the lower court judgment. It\u2019s unclear what else may result from negotiations over a settlement in appellate court.<br \/>\nNew leadership at SEC incoming<br \/>\nActing chair Uyeda is expected to step down following the US Senate confirming Paul Atkins as SEC chair on April 9.<br \/>\nDuring his confirmation hearings, lawmakers questioned Atkins about his ties to crypto, which could create conflicts of interest in his role regulating the industry. In financial disclosures, Atkins stated he had millions of dollars in assets through stakes in crypto firms, including Securitize, Pontoro and Patomak.<br \/>\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unanswered<a href=\"https:\/\/cointelegraph.com\/news\/court-pause-sec-ripple-appeals-case?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsAn appellate court has granted a joint request from Ripple Labs and the Securities and Exchange Commission (SEC) to pause an appeal in a 2020 SEC case against&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127315"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127315"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127315\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127315"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}