08.08.2025 03:08

The protracted legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) has officially concluded. A joint stipulation of dismissal, filed on August 7th with the US Court of Appeals for the Second Circuit, unequivocally signals the end of both parties' appeals. This decisive action brings an end to one of the most significant and closely watched cryptocurrency cases in recent history.

Both the SEC's appeal (Case No. 24-2648) and Ripple's cross-appeal (Case No. 24-2705) have been withdrawn, according to court documents. The joint filing explicitly states that both sides agree to dismiss the appeals, each party bearing its own legal expenses. This mutual agreement effectively closes the chapter on this long-running legal battle.

This outcome represents the final resolution stemming from Judge Analisa Torres' 2023 decision. While the judge determined that Ripple's institutional XRP sales constituted securities violations, programmatic sales and secondary market transactions were deemed compliant. Both Ripple and the SEC appealed aspects of this ruling; the SEC challenged the unfavorable portions, while Ripple contested the injunction and the $125 million civil penalty levied against them for institutional sales.

Earlier in the year, an attempt at a negotiated settlement aimed at reducing Ripple's penalties and vacating the injunction was made. However, Judge Torres' rejection of this settlement in June necessitated a return to the formal appeals process. The dismissal of the appeals now solidifies the original ruling, leaving the penalties and injunction unchanged. Consequently, the $125 million penalty, currently held in escrow, will be transferred to the US Treasury.

Following the filing of the joint dismissal, market reaction to the news unfolded. [Note: The original text lacked details on market reaction; further information from internet sources would be needed to complete this paragraph.]