Categories: Crypto

Court approves Ripple, SEC’s motion to dismiss appeal in XRP case

Key Takeaways

The SEC and Ripple have officially resolved their legal dispute, ending all appeals and clearing the way for final enforcement actions.
The settlement confirms Ripple’s $125 million penalty and upholds the court’s clarification that XRP is not a security for secondary market trades.

The long-running legal battle between Ripple Labs and the Securities and Exchange Commission has entered its final stage after the US Court of Appeals for the Second Circuit approved a joint stipulation dismissing the parties’ appeals, as confirmed by defense lawyer James Filan on Friday.

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The order puts an end to appellate proceedings, which had been paused earlier this year as Ripple and the SEC worked toward settlement terms. With the SEC’s appeal now dismissed, the case moves into final enforcement proceedings at the district court level.

As previously noted by the SEC, Judge Analisa Torres’s August 2024 ruling will remain in effect once dismissal is granted. Under the deal, Ripple will pay a $125 million civil penalty to resolve charges tied to its institutional sales of XRP.

This is a developing story.