The SEC and Ripple have reached a preliminary settlement agreement, and both parties have applied to suspend the appeal process

ChainCatcher news, according to former U.S. federal prosecutor James K. Filan, the SEC and Ripple have jointly submitted a motion to the U.S. Court of Appeals for the Second Circuit, requesting to "stay" the proceedings of both parties' appeals and cross-appeals, on the grounds that the parties have reached a "principled settlement agreement," which is currently awaiting approval from the SEC Commission. If approved, a motion for a declaratory judgment will be filed in the district court. The court has canceled the previously scheduled submission of response materials on April 16.

This motion signifies that the case may soon reach a final settlement.