EPIC ENDING! #Ripple and #SEC withdraw appeals and conclude the legal battle
XRP surges 9% and Judge Torres' ruling remains intact
In a historic turn, the long and tense legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) has come to an end. Both parties have jointly agreed to withdraw their appeals, meaning that the crucial ruling by Judge Analisa Torres from 2023 will stand as a final judgment. Following the news, #xrp surged over 9%.
SEC and Ripple lawyers filed a joint stipulation of dismissal on Thursday, ending a case that has marked the entire crypto industry. Both parties will bear their own costs and legal fees.
The Ruling Stands: With the withdrawal of the appeals, Judge Torres' ruling is final. This ruling was a partial victory for Ripple, as it determined that sales of XRP to institutional investors constituted illegal securities sales, while blind sales to retail investors did not.
Garlinghouse's Statement: Ripple CEO Brad Garlinghouse had anticipated this decision, stating in June that the company was ready to "close this chapter once and for all and focus on what matters most: building the Internet of Value."
#Xrp🔥🔥 #RippleXRP $XRP