13.06.2025 11:41

A joint motion has been filed by the Securities and Exchange Commission (SEC) and Ripple Labs with the Manhattan District Court, seeking the dismissal of the injunction in their protracted legal battle and the release of $125 million in escrowed civil penalties. The proposed settlement, contingent upon court approval, involves a $50 million payment to the SEC, with the remaining funds being returned to Ripple. This coordinated effort signifies a potential resolution to the lengthy and highly publicized dispute.

The filing, submitted on June 12, 2025, explicitly requests a modification of the Final Judgment against Ripple in the case *SEC v. Ripple Labs Inc*. Both parties contend that extraordinary circumstances justify this alteration, citing relevant legal precedents where judgment modifications proved crucial for settling disputes and resolving pending appeals. They emphasize that such a modification is not merely desirable but a necessary condition for the successful implementation of the proposed settlement.

A previous attempt by the SEC and Ripple to achieve a similar outcome, on May 8, 2025, was unsuccessful. Judge Analisa Torres rejected that earlier Rule 62.1 request, finding the justification for modifying the Final Judgment under Rule 60(b) insufficient. The current motion directly addresses this deficiency, providing more robust legal arguments to support the exceptional circumstances and the terms of the proposed settlement agreement.

This significant development follows a complex legal history spanning nearly two years, beginning with court orders issued in July 2023. The recent joint motion represents a substantial step toward a potential conclusion to this landmark case, pending Judge Torres's consideration and approval of the proposed settlement terms. The outcome will have far-reaching implications for the cryptocurrency industry and its ongoing regulatory landscape.