The Ripple-SEC dispute has reached its conclusion, confirmed by both parties and attorneys involved.
Details on Case Closure
Attorney James Filan stated that the Ripple vs SEC case is officially closed: “The parties have applied for a joint dismissal of the appeals. The case is closed.”
Ripple's Reaction and Next Steps
Ripple CEO Brad Garlinghouse announced in June that the company would drop its counter-appeal, saying, “We are closing this chapter completely and focusing on what matters most: building the internet of value.”
Outcomes of Judge's Ruling
With the appeals withdrawn, Judge Analisa Torres's mixed ruling from 2023 remains the final decision in the case. According to the ruling, while the sale of hundreds of millions of dollars in XRP to institutional investors was deemed illegal, the 'blind bid' sales to individual investors were ruled in favor of Ripple.
The closing of the Ripple vs SEC case marks a significant milestone for the cryptocurrency industry and will shape the company's future direction.
