After nearly four years of courtroom drama, Ripple Labs has decided to withdraw its appeal against the SEC, which may lead to the conclusion of one of the most watched cases in the cryptocurrency space.
Closing a Chapter in Ripple's Legal History
CEO Brad Garlinghouse confirmed the decision via social media, stating, 'We’re closing this chapter once and for all.' The SEC is also expected to drop its appeal, potentially bringing the case to a final close.
Expectations from SEC and Ripple
Ripple's Chief Legal Officer Stuart Alderoty emphasized that this decision changes nothing about XRP’s legal standing, which remains 'not a security.' However, legal expert Fred Rispoli suggests that the SEC may either publicly or privately prepare Ripple for free operation, giving an unofficial green light to its business.
Expert Analysis and Opinions
Despite the optimistic tone, former SEC lawyer Marc Fagel warned that it’s too early to celebrate, as the case isn’t truly over until the SEC officially drops its appeal. Critics question whether Ripple's settlement hints at guilt, but lawyer Bill Morgan clarified that most settlements do not involve any admission of liability. He also highlighted that the core win was the court's ruling that XRP is not a security.
If the SEC drops its appeal as expected, the crypto world could finally close the book on one of its most significant legal battles.
