<ul data-eligibleForWebStory="true"><li>The SEC has requested a 60-day extension in the Ripple appeal case, with the next update scheduled for August 15.</li><li>Both parties previously agreed to a hold on appellate activity to seek an indicative ruling from the District Court.</li><li>The SEC's filing aims to maintain the case in abeyance to allow time for finalizing a proposed resolution.</li><li>The proposed resolution includes vacating the permanent injunction on Ripple's institutional sales and reducing the financial penalty from $125 million to $50 million.</li><li>The Second Circuit is overseeing the case and required a progress update by June 16, leading to the current extension request.</li><li>The outcome of the appeal hinges on whether the District Court supports the adjustments outlined in the agreement between the parties.</li><li>If approved, the revised terms would significantly impact the long-standing legal battle between Ripple and the SEC.</li><li>The Ripple case is closely monitored by the crypto community, including XRP holders, legal experts, and stakeholders, for insights into regulatory implications and precedent.</li></ul>

SEC Seeks Additional 60-Day Pause in Ripple Appeal, Next Update Due August 15

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