Ripple and SEC Officially Dismiss Appeals in the XRP Lawsuit

The long -standing legal battle between Ripple Labs and the American Commission for Securities and Exchange (SEC) is officially completed.

On August 7, the two parties filed a joint dismissal stipulation with the American Court of Appeal for the second circuit, confirming the withdrawal of their respective calls.

The dry rejects calls against Ripple

According to court documents, the SEC rejected its appeal (case n ° 24-2648) and Ripple rejected its trick (case n ° 24-2705).

The joint deposit stipulates that the two parties “stipulate the dismissal” of business, each side bearing its own costs and legal costs.

The deposit reports one of the most publicized law actions in the history of cryptography.

He also marked the last step in the aftermath of the decision of judge Analisa Torres in 2023. The decision revealed that the institutional sales of XRP de Ripple violated the securities laws, while programmatic sales and secondary market transactions did not do so.

Context of the call process

Ripple and the SEC both called on this decision. The SEC sought to challenge certain parts of the judgment which did not favorable it, while Ripple challenged the injunction and $ 125 million in civil sanctions imposed for institutional sales.

Earlier this year, the two parties tried to resolve the dispute thanks to a negotiated settlement which would reduce the sanctions of Ripple and cancel the injunction.

Judge Torres rejected this request in June, forcing both parties in the official appeal process.

Today’s deposit ends this effort and confirms that No modification will be made to the original remedies. THE Penalty of $ 125 millionCurrently held in full, will now be transferred to the US Treasury.

XRP market reaction

After the deposit, XRP jumped 5% in the last hour, while traders reacted at the official end of the multi -year legal battle. Altcoin reached a summit of all time at the end of July, but was faced with significant corrections thereafter.

So, what does that mean for Ripple and XRP in the future? Ripple remains forbidden to carry out unregistered institutional sales of XRP.

Meanwhile, the dry will not continue any other action on this case. The previous one established by the decision of Judge Torres constitutes a partial victory for the two parties.

With the rejected calls and the closed case, Ripple can now move forward in a clearer regulatory framework, although it remains subject to the restrictions imposed by the court.

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