Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to pause their respective appeals for 60 days, as they work towards finalizing a potential settlement. This move comes after both parties reached an agreement-in-principle to resolve the ongoing lawsuit that has been central to debates over the regulatory status of cryptocurrencies in the U.S. The SEC has agreed to drop its appeal unconditionally, and in response, Ripple has dismissed its cross-appeal. The SEC has also agreed to accept a reduced fine of $50 million, down from the initial $125 million ordered by Judge Torres, and to dismiss the permanent injunction on Ripple's future XRP sales. Ripple's CEO Brad Garlinghouse and Chairman Chris Larsen are also involved in this agreement. The pause in the appeals process is intended to save judicial and party resources, and the SEC will issue a status report within 60 days to update on the commissioners' decision regarding the settlement agreement. This development follows Ripple's recent announcement of acquiring Hidden Road for $1.25 billion, marking a significant move in the cryptocurrency industry.