The SEC vs. Ripple Case: Key Developments and Implications
The ongoing legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs continues to shape cryptocurrency regulation discussions. At the heart of this case is whether XRP qualifies as a security under U.S. law, with significant implications for the broader crypto industry.
Recent Case Developments
In April 2025, Ripple signed a settlement agreement, followed by the SEC in May 2025. Both parties sought to pause litigation through a 60-day abeyance period while negotiations continued.
- Settlement agreement signed April 23, 2025 (Ripple) and May 8, 2025 (SEC)
- Initial Rule 62.1 motion denied due to procedural issues
- Successful second motion addressing rule 60 approved June 12, 2025
Legal Challenges and Outcomes
Judge Analisa Torres rejected the first motion because it failed to properly address rule 60 requirements. This procedural setback delayed progress until the parties corrected the oversight in their subsequent filing.
Ripple’s Strategic Position
Stuart Alderoty, Ripple’s Chief Legal Officer, maintains the company’s strong position. The court presented Ripple with clear options regarding its appeal:
- Withdraw the appeal regarding historic institutional sales determinations
- Continue pursuing the appeal process
Regardless of the chosen path, Alderoty emphasized that XRP‘s classification as a non-security remains unaffected. This case highlights the evolving regulatory landscape for digital assets and the need for clearer guidelines.
