Ripple Labs and SEC have concluded their long legal dispute, agreeing with the court's 2023 ruling on the XRP token case.
Outcomes of the Legal Dispute
Ripple Labs has officially ended its legal confrontation with the SEC after nearly five years of disputes that began in December 2020. Ripple's CEO Brad Garlinghouse announced that the company has withdrawn its cross-appeal, and the SEC is expected to do the same.
New Legal Reality for Ripple
As a result of this resolution, Ripple will pay a $125 million fine and remain restricted from conducting institutional XRP sales in the U.S. However, the classification of XRP as a non-security for retail trading has remained unchallenged.
Impact on the Cryptocurrency Market
The conclusion of this case gives Ripple legal certainty in retail markets and allows the company to expand its payment services using XRP. By being free from legal burdens, Ripple can now engage with global partners.
The resolution of this case opens new opportunities for Ripple and underscores XRP's legal status in the market. The conclusion of the legal battle with the SEC marks an important step toward clarity for the cryptocurrency sector.
