🚀💥 A resounding victory for Ripple! 🔥🎉 Brad Garlinghouse, the CEO of Ripple, announced on stage during the Digital Asset Summit that the U.S. Securities and Exchange Commission (SEC) has officially dropped its appeal! ⚖️✅ This move ends a years-long legal battle, representing a significant victory for the cryptocurrency world and a strong boost for the future of XRP! 🚀📈
🔹 Case closed by the Securities and Exchange Commission: The U.S. Securities and Exchange Commission (SEC) has ended a four-year legal battle that began in December 2020 when it alleged that Ripple raised $1.3 billion through unregistered securities sales of XRP.
🔹 Court ruling partially in favor of Ripple: In July 2023, the court issued a partial ruling in favor of Ripple, stating that XRP is not a security in transactions with individual investors, but imposed a $125 million fine and banned its sale to institutions in 2024.
🔹 SEC appeal: In January 2025, the SEC filed an appeal against this decision.