SEC and Ripple, in their refiled June 12, 2025 request for an indicative ruling, addressed the court's prior concern regarding the “exceptional circumstances” by citing the SEC’s evolving stance on cryptocurrency regulation, including the agency’s dismissal of multiple crypto investigations

Event date

June 12, 2025

Quotes that support claims

"Accordingly, there are 'exceptional circumstances' beyond the Settlement Agreement itself that justify modifying the final judgment here to facilitate settlement, obviate the pending appeals, and conserve agency and party resources," lawyers for Ripple and the SEC said on Thursday in the court document.

In an updated development, Terrett explained that exceptional circumstances, including a settlement, a shift in the SEC's crypto policy, and a wish to avoid more legal battles, might lead to changes in Judge Torres's earlier ruling. This comes after the judge rejected a similar request in May.

In the court document, both parties cited the SEC's sweeping changes in how it views cryptocurrency. Since former SEC Chair Gary Gensler left office in January as the Trump administration rolled in, the agency has dropped several investigations and charges against large crypto firms

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Week 24 of 2025