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James K. Filan, a former federal prosecutor who usually shares information on the Ripple SEC lawsuit, has shared a new update on X.
According to Filan, the U.S. Securities and Exchange Commission (SEC) has filed a status report with the Court of Appeals, giving an update on prior events in the lawsuit. The SEC reported that both parties have filed a joint stipulation of dismissal of respective appeals and that the stipulation remains pending and therefore awaiting approval by the Court.
The SEC status report filed Aug. 15, 2025, stated that "the parties have filed a joint stipulation of dismissal of the commission's appeal and Ripple's cross appeal with each party to bear its own cost and fees. The joint stipulation of dismissal remains pending."
As previously reported, the SEC's status report was due Aug. 15, and according to XRP enthusiast and legal attorney Bill Morgan, the latest move remains just formality with no impact on past or future developments in the lawsuit.
Throwback
Earlier in August, Ripple and the SEC agreed to dismiss their appeals, marking an end to the long-running legal battle.
On Aug. 7, the SEC filed a Joint Stipulation of Dismissal entered into with defendants Ripple Labs, Bradley Garlinghouse and Christian A. Larsen that dismisses the Commission’s appeal and Ripple’s cross-appeal pending in the United States Court of Appeals for the Second Circuit, and resolves the Commission’s civil enforcement action against the defendants.
Both parties filed cross-appeals after the district court issued a final judgment imposing a $125,035,150 civil penalty and an injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933.
The SEC stated that the dismissal of the appeals means the final judgment remains in effect. In a post on X, Stuart Alderoty, Ripple's chief legal officer, referenced the SEC's actions and stated that the dismissals marked "the end" of the case.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team