SEC and Ripple reach preliminary settlement agreement, both parties apply to suspend appeal process

On April 11th, it was reported that according to former US federal prosecutor James K. Filan, the SEC and Ripple have jointly filed a motion with the US Second Circuit Court of Appeals to "stay the proceedings" of their respective appeals and cross-appeals, citing that both parties have reached a "principled settlement agreement" that is currently pending approval by the SEC Commissioners. If approved, they will seek a declaratory judgment from the district court. The court has cancelled the original arrangement for filing response materials on April 16th.

This motion indicates that the case may soon be reaching a final settlement.