The US Securities and Exchange Commission (SEC) has dropped its appeal in the landmark crypto case against Ripple, marking a significant win for the crypto industry. Former SEC official Marc Fagel has commented on the recent developments, providing insight into the potential motives behind the actions.

*Key Developments:*

- *SEC Drops Appeal*: The SEC has decided to drop its appeal in the Ripple case, concluding the nearly five-year legal dispute.

- *$125 Million Civil Penalty*: Ripple and the SEC have jointly submitted a request to release a $125 million civil penalty held in escrow, with $50 million going to the SEC and $75 million released to Ripple.

- *Joint Motion*: Both parties have requested that the court dissolve the injunction against Ripple, effectively closing the case.

*Former SEC Official's Reaction:*

- *Avoiding Appeal*: Marc Fagel believes the joint motion is an attempt by both parties to avoid going forward with the appeal.

- *Exceptional Circumstances*: The motion claims "exceptional circumstances" as grounds for revisiting the final judgment, citing shifting regulatory attitudes at the SEC.

*Implications:*

- *End of Legal Battle*: The SEC's decision to drop its appeal marks a decisive win for Ripple and could signal a shift in the SEC's approach to crypto enforcement.

- *Industry Impact*: The outcome of this case may have implications for other crypto firms facing SEC enforcement actions ¹ ² ³.