The SEC and Ripple have filed a joint dismissal of their appeals in the long-standing lawsuit, likely impacting the XRP market. This event is related to the case's conclusion before the August 15, 2025 deadline.
Overview of the Joint Dismissal
The SEC and Ripple have officially filed for a joint dismissal of their appeals, effectively ending one of the most watched legal battles in the cryptocurrency world. This move comes after lengthy proceedings that shaped regulatory discussions.
Roles of Brad Garlinghouse and Christian Larsen
Ripple's CEO, Brad Garlinghouse, and Executive Chairman Christian Larsen played crucial roles throughout the case. The final procedural steps await a vote from the SEC commissioners. 'We are just waiting for the SEC commissioners to vote on dismissing the Appeal and the parties to take that final step dismissing their respective appeals... Dismissal of the appeals may happen, and is more likely... before the 15 August deadline to report to the appeal court on the status of the appeals,' stated Bill Morgan, Lawyer and XRP Community Commentator.
Future of XRP in Light of Legal Changes
Legal clarity around XRP may bolster its trade legality in the US, potentially encouraging new market engagements. Experts express that Ripple's case could serve as a reference point for future crypto regulatory actions. Historical cases like SEC v. Kik and SEC v. Telegram also led to significant outcomes. Ripple’s case is notable as one of the first involving a major token outside Bitcoin and Ethereum.
The SEC and Ripple's joint dismissal is an important step that may have lasting effects on the XRP market and set precedents for cryptocurrency regulation in the future.
