The U.S. Securities and Exchange Commission (SEC) has taken a significant step forward in its ongoing legal battle with Ripple Labs. The SEC filed a status report to the U.S. Court of Appeals for the Second Circuit outlining that both parties have submitted a joint waiver to dismiss their appeals regarding the case. This document was submitted on August 15, 2025, according to attorney James K. Filan, who is involved in the XRP legal proceedings. However, this waiver requires court approval before it can be enacted, meaning the process for ending the appeals phase remains on hold. The SEC has indicated that a settlement was reached for both their appeal and Ripple’s counter-appeal, with each party responsible for covering their own litigation costs.