08.08.2025 04:19
The protracted legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. has finally concluded. A joint stipulation for dismissal, filed with the U.S. Court of Appeals for the Second Circuit, brings an end to the appeals process, resolving the case definitively. This significant development follows years of litigation, signifying a turning point for both parties and the cryptocurrency industry at large.
The dismissal, encompassing both the SEC's appeal and Ripple's cross-appeal (Case Nos. 24-2648(L) and 24-2705(XAP)), involves Ripple Labs, its executives Bradley Garlinghouse and Christian A. Larsen, and the SEC. Each party will cover its own legal expenses, according to the joint filing. This agreement builds upon a 2023 ruling from the U.S. District Court for the Southern District of New York (No. 20-cv-10832), which partially favored Ripple, declaring XRP not a security in secondary market transactions.
Legal representatives for all parties involved signed the joint dismissal, a move unequivocally authorized by Ripple and its leadership. The document’s inclusion of Ripple’s and its executives' signatures underscores the finality of the agreement and the absence of any further appeals. This collaborative effort signals a significant shift in the dynamic between the regulatory body and Ripple, leaving open the possibility for future collaboration on clearer regulatory frameworks.
Launched in December 2020, the lawsuit held substantial weight for the crypto industry. Its resolution removes the threat of further federal litigation against Ripple concerning XRP's regulatory status, at least temporarily. The outcome may significantly impact future interpretations of U.S. securities law concerning other cryptocurrencies, particularly as regulatory debates intensify. This development offers a substantial victory for XRP holders and the broader crypto community, suggesting a potential path toward greater regulatory clarity within the digital asset landscape. The precedent set by this case will undoubtedly shape future legal battles and legislative action in the cryptocurrency sector.
