The crypto world is buzzing with a development that could signal a monumental shift in one of the industry's most closely watched legal battles. Ripple, the company behind the XRP token, has announced a significant move that could finally bring an end to its long-standing legal dispute with the U.S. Securities and Exchange Commission (SEC).
Ripple SEC Case: A Turning Point for Digital Assets?
Ripple CEO Brad Garlinghouse confirmed via X that the company is formally ending its cross-appeal in the ongoing legal saga with the SEC. This isn’t a unilateral move; Garlinghouse also noted that the SEC is expected to withdraw its own appeal, a possibility that the agency had previously hinted at. For years, the Ripple SEC case has cast a long shadow over the crypto space, particularly for XRP holders and projects seeking regulatory certainty in the United States.
XRP Lawsuit Update: What Does Ending the Appeals Mean for Investors?
The legal battle, initiated by the SEC in December 2020, accused Ripple of conducting an unregistered securities offering through its sale of XRP. While Ripple secured a partial victory in July 2023, the appeals from both sides meant continued uncertainty. The withdrawal of these appeals, if it proceeds as expected, effectively closes the book on this particular chapter, potentially removing a major overhang for XRP’s price.
Ripple Cross-Appeal: Why This Strategic Move Now?
The decision to drop the Ripple cross-appeal suggests a strong belief within Ripple that the core legal arguments have been sufficiently addressed. Earlier this year, there was an attempt at a settlement which the court rejected, pushing both parties back to the drawing board. This current situation suggests a willingness to move forward without further legal wrangling.
The anticipated conclusion of the SEC vs. Ripple lawsuit marks a pivotal moment. It signifies a potential shift from protracted legal battles towards a more defined regulatory environment for all cryptocurrencies.
