San Francisco-based enterprise blockchain company Ripple and the U.S. Securities and Exchange Commission (SEC) have filed a joint request to the United States Court of Appeals for the Second Circuit to hold their appeals in abeyance, which means that they want to suspend them.
The parties claim that they have reached "an agreement-in-principle" to resolve their issues.
The final resolution of the case still has to be approved by the SEC commissioners.
As reported by U.Today, Ripple dropped its cross-appeal in the case in late March after the SEC agreed to dramatically reduce Ripple's fine and ask the court to drop the injunction against the company. The company will not file the brief that was supposed to be submitted by April 16.
Caroline AmosunThe SEC agreed to drop its appeal against Ripple back in March.
Meanwhile, the SEC has asked a district court to deny an unusual emergency request by a man named Justin W. Keener to submit last-minute evidence in the case.
The SEC sued Ripple in late 2020 when former Chairman Jay Clayton was at the helm of the agency.
Vladislav Sopov
Dan Burgin