CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Crypto Daily 2025-06-28 15:17:26

Ripple, SEC Agree To Drop Appeals, End Prolonged Legal Battle

Ripple and the United States Securities and Exchange Commission (SEC) have agreed to drop all appeals and end their five-year legal battle. The agreement marks a pivotal moment for crypto regulation and signals the end of one of the industry’s most consequential court cases. Ripple, SEC End Legal Battle Ripple CEO Brad Garlinghouse announced the decision on Friday. It comes shortly after a New York judge blocked the company’s attempts to settle the case for $50 million. Garlinghouse added that the SEC is also expected to drop its appeal, ending the prolonged legal battle. “Ripple is dropping our cross-appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all and focusing on what’s most important – building the Internet of Value. Lock in.” Judge Analisa Torres had denied a joint motion for an indicative ruling earlier in the week, the second time she dismissed the appeal. According to Stuart Alderoty, Ripple’s chief legal officer, the court could either dismiss its appeal challenging the prior funding on the historic institutional sale of XRP or proceed with the appeal and litigation. “With this, the ball is back in our court. The court gave us two options: dismiss our appeal challenging the finding on historic institutional sales—or press forward with the appeal. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. In the meantime, it’s business as usual.” A History Of The Legal Battle The SEC sued Ripple in 2020, alleging it conducted an unregistered securities offering by selling XRP tokens to investors. In 2023, Judge Torres ruled that while XRP is not a security, Ripple’s direct sales to institutional investors constituted an unregistered securities offering. The decision was lauded as a landmark split decision, securing a major win for the crypto industry in clarifying that the programmatic sales and secondary market trading of the XRP token did not fall under SEC jurisdiction. However, the judge imposed potential financial penalties for Ripple. The SEC hinted it would appeal the ruling on XRP’s non-security status. However, it ultimately decided to drop the appeal. Ripple’s decision to drop the cross-appeal effectively ends the litigation on the institutional sales ruling. The outcome gives XRP legal clarity in the US and finalizes Ripple’s settlement exposure. However, the company is expected to pay a civil penalty related to the institutional sales of the XRP token. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta