Ripple Labs has concluded a prolonged legal battle with the U.S. Securities and Exchange Commission (SEC), accepting a $125 million penalty. This decision is significant for the cryptocurrency industry and XRP investors.
Closure of the SEC Dispute and Penalty
Ripple Labs has withdrawn its cross-appeal against the SEC, marking an end to a multi-year legal dispute that began in 2019. This confirms the company's willingness to accept the initial court ruling and the accompanying $125 million civil penalty. CEO Brad Garlinghouse emphasized that this step allows Ripple to 'close this chapter.'
XRP Status in the Market
The ruling confirmed XRP's non-security status in retail exchanges while acknowledging violations in institutional sales. A final court order is anticipated in the coming months, providing further clarity for market participants.
Crypto Community Reaction and Forecasts
The reaction within the crypto community has been mixed, with some viewing the resolution as a victory for retail clarity, while many remain cautious, awaiting official final court decisions.
The conclusion of Ripple's legal battle with the SEC emphasizes the importance of legal certainty in the cryptocurrency industry. This situation may influence the future of XRP and similar assets in the market.
