Ripple Drops Appeal, Ending Its Legal Dispute with the Securities and Exchange Commission (SEC)

The company's move and explanation for its reasons gained momentum after Garlinghouse confirmed it would formally withdraw its cross-appeal request for the ruling in its protracted legal dispute with the U.S. Securities and Exchange Commission (SEC), with the commission expected to do the same soon. This development brings an end to a legal dispute that began in 2020 over allegations that the company sold $1.3 billion worth of cryptocurrencies as unregistered securities.

The court imposed a $125 million fine on the company for its institutional sales, significantly less than the $2 billion fine the SEC had requested. Stuart Alderoty, the company's head of legal team, described the ruling as a strategic legal victory.

Ripple avoids further litigation.

The SEC is also likely to withdraw its appeal soon.

Final fine: $125 million out of the $2 billion the SEC sought.

This decision removes regulatory uncertainty and enables the company to accelerate its growth initiatives related to XRP.

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