27.06.2025 21:48

The protracted legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) has officially concluded. A mutual agreement has been reached to drop all appeals, effectively bringing an end to a highly publicized case that significantly impacted the cryptocurrency industry.

Brad Garlinghouse, Ripple's CEO, confirmed this development via X (formerly Twitter), stating that Ripple is withdrawing its cross-appeal and anticipates a reciprocal action from the SEC, aligning with prior statements from the regulatory body. This decision signals a definitive closure to the chapter, allowing Ripple to refocus its efforts on its stated mission: building the "Internet of Value."

This resolution comes in the wake of a federal judge's denial of a joint motion by both Ripple and the SEC to lessen Ripple's penalty to $50 million. Judge Analisa Torres deemed that neither party possessed the authority to modify the existing injunction or fine without satisfying stringent legal criteria, which the motion failed to meet. Nevertheless, this rejection did not derail the overarching settlement.

The original ruling, handed down in July 2023, established a nuanced distinction regarding XRP sales. While sales on public exchanges were deemed compliant with securities laws, institutional sales totaling $728 million were found to be in violation. This resulted in a $125 million fine for Ripple and a prohibition against similar future sales. However, Ripple's abandonment of the appeal suggests a strategic prioritization of operational certainty.

The SEC's apparent softening of its crypto enforcement strategy, following the recent dismissal of similar lawsuits against Coinbase, Kraken, and Binance, might contribute to this overall shift. This development adds further complexity to the evolving regulatory landscape of the cryptocurrency market. The story continues to unfold. Information sourced from internet resources.