SEC and Ripple submit joint motion to suspend appeal

According to BlockBeats, on April 11th, former US federal prosecutor James K. Filan revealed that the two parties in the Securities and Exchange Commission v. Ripple case have submitted a joint motion to suspend the appeal based on the settlement agreement reached by both parties. The settlement agreement is yet to be approved by the committee. No text messages will be submitted on April 16th. BlockBeats previously reported that on March 26th, Stuart Alderoty, the Chief Legal Officer of Ripple, issued a statement stating that "last week, the US Securities and Exchange Commission (SEC) agreed to unconditionally waive the appeal. Ripple has now agreed to abandon its cross appeal. The SEC will retain $50 million of the $125 million fine (already deposited in cash into an interest bearing custodial account), and the remaining amount will be refunded to Ripple. The agency will also request the court to lift the standard injunction previously imposed at the request of the SEC. All of these require committee voting, drafting of final documents, and regular court procedures