Settlement in the final stages as court suspends SEC and Ripple appeal hearing

On April 16, the U.S. Court of Appeals approved a joint petition to suspend the appeal hearing in the ongoing lawsuit between the Securities and Exchange Commission (SEC) and Ripple. The order, signed by Judge Jose Cabranes, put the court proceedings on "hold" while the parties work toward a final settlement agreement. The decision requires the SEC to report to the court on the progress of the settlement within 60 days, by June 9.

The joint petition, filed last week, comes after the SEC and Ripple reached an "agreement in principle," with Ripple officially announcing that the SEC has agreed to drop its appeal. However, the decision was made ahead of time...