Ripple Labs Reports SEC Withdrawal of Appeal
Ripple Labs has reported that the U.S. Securities and Exchange Commission (SEC) has withdrawn its appeal against a court ruling stating that XRP tokens sold on public exchanges do not qualify as securities. However, the court maintained that Ripple's $728 million in XRP sales to institutional investors should adhere to securities laws, with a proposed $125 million fine currently on hold pending Ripple's appeal. Ripple's executives view the SEC's withdrawal as a significant victory and a potential shift in the regulatory landscape.
