The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is approaching its end, with CEO Brad Garlinghouse announcing the company is dropping its cross-appeal.
Ripple Ends Its Appeal
Garlinghouse announced that the company is officially dropping its cross-appeal against the SEC. In a social media post, he stated, "We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value. Lock in."
Importance of July 3 Meeting
According to the SEC’s official notice, a private meeting will be held on July 3, covering various topics, including settlements and litigation matters. Many in the crypto community believe this could involve the Ripple case.
Legal Experts' Opinions
Former SEC attorney Marc Fagel weighed in, stating, "there's nothing further for Judge Torres to do. She already issued her final judgment a year ago, so once both parties have dismissed their appeals (which the SEC still needs to vote on), it will go into effect." He emphasized that the only remaining step is for the SEC to vote on dropping its appeal, which could happen during the July 3 meeting.
If the SEC drops its appeal, it will mark the official end of one of crypto’s longest and most closely watched legal battles, opening new prospects for Ripple and the XRP community.
