Ripple Labs and the US Securities and Exchange Commission (SEC) have jointly requested a break in their respective appeals to end a potential solution in pr. Suggestions that were submitted on Thursday.

The filing signalizes a possible ending to a high-profile dispute that has seized payments upstart industry since December 2020 for its sale of XRP tokens, which SEC allegedly was unregistered securities.

The case has been a rallying point for debates on regulatory status for Cryptocurrencies in the United States, where Ripple argued that XRP is a currency, not a security and thus outside SEC’s jurisdiction.

Ripple and SEC have reached a “principle agreement” to solve all excellent problems per day. Post shared by lawyer James Filan.

This includes not only SEC’s appeal from the final judgment of the court, but also Ripple’s cross-appeal and the allegations against Ripple founders Brad Garlinghouse and Chris Larsen.

The proposal requests that the court have the appeal process in accordance – effectively pause it – while the parties hammer the final terms of the settlement, which still requires formal approval from SEC’s commissioners.

This follows a similar request from SEC and Gemini in early April, when the two parties requested that the court approve a two-month break to conclude an appointment to close their long-term legal dispute over Gemini’s Earn program.