Ripple officially withdrew his trick with the dry in the XRP trial, marking a decisive end to one of the oldest legal disputes in the crypto.
CEO Brad Garlinghouse announced this decision on June 27, declaring that the company will not dispute the court in 2023 according to which XRP sales to institutional investors have constituted transactions in securities.
Is the XRP trial finally finished?
The Ripple V SCA affair was an enormous event for the regulation of cryptography, but the show did not end after the drop in the case.
The two parties have spent the last months trying to solve a persistent problem: an inter-appeal call concerning sales of non-institutional securities.
Today, the CEO of Ripple, Brad Garlinghouse, announced that the company finally abandoned.
This decision follows the decision of Judge Torres on June 26, which denied the parties’ attempt to modify the injunction and reduce Ripple’s penalty. This rejection blocked the way to a negotiated resolution.
By abandoning the appeal, Ripple accepts the existing judgment of the Court. This includes the restriction of XRP institutional sales and the likely taxation of a penalty of $ 102.6 million.
No other judicial date is expected and the case will end once the SEC officially removes its own appeal. This step is scheduled for the coming weeks.
The 2023 decision, which noted that XRP sales on exchanges are not titles, remains intact. This gives continuous clarity for the XRP retail trade.
The case, which started in December 2020, became a previous key in cryptographic regulations. Its conclusion closes a chapter of the application of American digital assets.
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