Ripple Labs has officially stepped away from its legal standoff with the U.S. Securities and Exchange Commission, marking a turning point in a case that has shadowed the crypto firm since 2020.
CEO Brad Garlinghouse announced Friday that Ripple is dropping its cross-appeal, signaling a decisive end to its fight over XRP’s regulatory status. “We’re closing this chapter once and for all,” he wrote on X, emphasizing the company’s renewed focus on building the so-called Internet of Value.
The case began when the SEC accused Ripple of raising $1.3 billion through unregistered securities—namely, XRP sales. In a partial victory last year, Judge Analisa Torres ruled that Ripple’s programmatic sales did not violate securities laws due to their blind bid nature.
However, she found that direct XRP sales to institutional buyers did qualify as securities, resulting in a $125 million penalty.
Ripple had previously indicated in March that it would not pursue further legal challenges. The recent post follows a decision by Judge Torres rejecting a joint request by both parties to dissolve an injunction and reallocate fines—$50 million to the SEC, and $25 million to Ripple.
Though the company has not issued additional comments, the message is clear: Ripple is done with the courtroom and ready to move on.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/ripple-ends-legal-war-with-sec-to-build-the-internet-of-value/